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29 June, 18:58

There are many restaurants in a city, each one offering food and services that differ from those of its competitors. There is also free entry of sellers into the market, and each seller serves a very small fraction of the total number of meals served each day. The restaurant industry in Raleigh is best categorized as:

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  1. 29 June, 19:24
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    Answer: monopolistically competitve

    Explanation:

    Yes they are competitive, but taking into cognisance that they offer differing services and there is a level of uniqueness with each restaurant, so there is a monopolistic competition between them.
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