Question:
McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition?
Monopolies:
A monopoly is a market with a single seller. This is different than a market that has monopolistic competition. In the case of the latter, there are many sellers but they sell differentiated goods that are similar but not hom*ogeneous.
Answer and Explanation:1
Become a Study.com member to unlock this answer!Createyouraccount
Answer: Monopolistic Competition
McDonald's sells a unique good due to its branding and recipes. Many firms have similar marketing strategies and...
See full answer below.
