June 8, 2015
With the creation of the Honeycrisp, perfect competition became monopolistic competition in the apple industry and quality and quantity incentives changed.
With the creation of the Honeycrisp, perfect competition became monopolistic competition in the apple industry and quality and quantity incentives changed.
Displaying the characteristics of monopolistic competition, Shake Shack is showing how the U.S. burger market is adjusting to a changing consumer.
Behavioral economic ideas show that product differentiation and consumer preference are more from branding than the taste of colas or beers.