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Essay

Competition Vs. Monopoly

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Benjamin F

 

Date added:

November 9, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 919

 

Was viewed:

602 times

 

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Essay content:

Many fast food franchises fit all or most of these characteristics. Competition within the industry as well as market supply and demand conditions set the price of products sold. For example, when Wendy's introduced its $.99 value menu, several other companies implemented the same type of changes to their menu...
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The demand for items on Wendy's value menu was so high because they were offering the same products as always, but at a discounted price. This change in market demand basically forced Wendy's competition to lower prices of items on their menu, in order to maintain their share of the market. The previous example illustrates the elasticity of the fast food industry...
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