Monopoly: In this market only one supplying firm, consumers

Question
Firms like Papa John’s, Domino’s, and Pizza Hut sell pizza and other products that are differentiated in nature. While numerous pizza chains exist in most

locations, the differentiated nature of these firms’ products permits them to charge prices above marginal cost. Given these observations, is the pizza

industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry? Use the causal view of structure, conduct, and performance to explain the role of differentiation in the market for pizza. Then apply the feedback critique to the role of differentiation in the industry.

Originally posted 2017-01-15 14:02:03. Republished by Blog Post Promoter