Delish, a moderately priced restaurant, has recently announced intentions to open a restaurant in Boston, MA. Assume that the restaurant market in Boston is characterized by monopolistic competition. Refer to Scenario 16-2. As a result of the new restaurant, consumers in Boston are likely to experience a a. business-stealing externality, which is a positive externality. b. product-variety externality, which is a positive externality. c. product-variety externality, which is a negative externality. d. business-stealing externality, which is a negative externality.
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Home » Business » Delish, a moderately priced restaurant, has recently announced intentions to open a restaurant in Boston, MA. Assume that the restaurant market in Boston is characterized by monopolistic competition. Refer to Scenario 16-2.