eating it right now, and all i can think is “monopolistic competition” in fact, its a pretty good business, things like cereal and so on. as long as you can differentiate your good, etc.
and spaghetti sauce!
Catchwords: Differentiated products… Large no. of independent sellers… Firms compete on price, quality, etc Low barriers to entry… Close substitutes…
finfan Wrote: ------------------------------------------------------- > Catchwords: > > Differentiated products… > Large no. of independent sellers… > Firms compete on price, quality, etc > Low barriers to entry… > Close substitutes… correctomundo. i have to remember the low barriers point, i forget that, but it is very true.
hey daj, i’m glad you’re posting these econ questions as you go through the materials. econ is what i was planning on reviewing tomorrow. good luck!