Ask Question
BusinessBusiness
18 April, 17:53

In most large cities there are a large number of bakeries. These bakeries produce similar, but not identical, products. Some bakeries claim to have the best cheesecakes in town, while others brag about their cookies or specialty breads. The bakery market in a large city is an example of:A. Monopolistic competition. B. Perfect competition. C. An oligopoly. D. A monopoly.

+1
Answers (1)
  1. 18 April, 18:20
    0
    The correct answer is option A.

    Explanation:

    A monopolistic market is a market structure that has a large number of buyers and sellers in the market. The sellers produce heterogeneous or differentiated products which are close substitutes. There are relatively easier entry and exit in the market as compared to a monopoly market.

    There is a high degree of competition in the market and the producers use an advertisement to promote their products.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In most large cities there are a large number of bakeries. These bakeries produce similar, but not identical, products. Some bakeries claim ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
On october 1, the accounts receivable account balance was $115,800. during october, $449,600 was collected from customers on account. assuming the october 31 balance was $130,770 determine the fees billed to customers on account during october.
Answers (1)
Ones Corporation switched from the LIFO method of costing inventories to the FIFO method at the beginning of 2017. The LIFO inventory at the end of 2016 would have been $80,000 higher using FIFO.
Answers (1)
A 15-year annuity pays $1,650 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the
Answers (1)
During a recent hurricane, 25 individuals of the same butterfly species were blown onto a barrier island in southern florida.
Answers (1)
The principal uses a computer to randomly select the name of a stude from all the students in the school. with the computer program, it is possible to draw the name of the same student twice.
Answers (1)
New Questions in Business
Caralee's coworker mohammed, who is muslim, celebrates ramadan for one month each year; during this time, he fasts from sunrise to sunset. donuts and muffins are usually served at meetings in their company.
Answers (1)
After posting the first closing entry to the owner's capital account, the balance will be increased (decreased) by a. revenues for the period b. the net income (net loss) for the period c. owner's equity d. zero
Answers (1)
A fast-food restaurant has a drive-through window and during peak lunch times can handle a maximum of 50 cars per hour with one person taking orders, assembling them, and acting as cashier. The average sale per order is $9.00.
Answers (1)
If supply and demand for a good both decrease, which of the following is true? Group of answer choices Equilibrium quantity will decrease but we cannot say for sure what will happen to equilibrium price.
Answers (1)
What is a bounced check? How can Jump consumers avoid bounced check fees?
Answers (1)
Home » Business » In most large cities there are a large number of bakeries. These bakeries produce similar, but not identical, products. Some bakeries claim to have the best cheesecakes in town, while others brag about their cookies or specialty breads.
Sign Up Forgot Password?