Example of market that is monopolistically competitive

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In many urban areas, the fast food industry is a common example of a market that is monopolistically competitive. Are there any barriers to entry for potential firms that might wish to enter the fast food industry? Also, what are the prospects for a new fast food restaurant to earn profit? Explain your answer.

Reference no: EM131101303

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Example of market that is monopolistically competitive : In many urban areas, the fast food industry is a common example of a market that is monopolistically competitive. Are there any barriers to entry for potential firms that might wish to enter the fast food industry? Also, what are the prospects for a ..

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