In the United States, the restaurant industry is quite competitive, with a large number of competitors each with a sizeable amount of market share. This industry is best described as: A) an inherently competitive industry, which currently does not warrant heavy government regulation. B) a natural monopoly, with governmental regulation necessary to ensure the quality of production. C) a competitive industry that is subject to social regulation because of the impact of its production on society. D) a deregulated industry, which does not require heavy government regulation because of its low barriers to entry and exit.
A?
A and D seem to say the same thing… i would probably go D
A
A, deregulated implies that it was regulated at some point…
I will also go for A
A. D says it was regulated at some point.
mwvt9 Wrote: ------------------------------------------------------- > A. > > D says it was regulated at some point. good point. didnt think about that. just liked the way “low barries to entry” sounded
A
C
A
I dislike D, so A it is.
I would answer A but wonder why C is incorrect.
i would usually think of social regulation more for an industry that can really harm the environment like utilities or automakers or something… whats the worst a restaurant can do, waste some food? but i agree it could be true but probably isnt the “best” answer
i’d go with A was fluctuating between A and D, but the deregulation part is not going too well with me…
A
Answer?
A. In regards to D, wouldn’t low barriers to entry mean that it might need government regulation?
low barriers to entry would promote high levels of competition which would eliminate the need for gov’t regulation.
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