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The fast food industry is an example of which competitive structure? Thoroughly explain your answer

The fast food industry is an example of which competitive structure? Thoroughly explain your answer
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Answer - The fast food industry is an example if monopolisitic market strcture. This is because it contains a large number of buyers and sellers , free market entry and exit. It differentiates its products based upon the taste , style of serving etc and can price discriminate upon this. Hence this is perfect example of monopolisic competition.

Eg - A restaurant may sell a dish for $ 5 with a simple garnish , but the same dish may be for $ 15 , in another restaurant who has decorated its dish with nice garnish ingredients and is of a better level.

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