Competition Vs. Monopoly

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Title: Competition Vs. Monopoly

Essay Details:

Subject: Miscellaneous

Author: Allen C

Date: March 18, 2015

Level:

Grade: C

Length: 4 / 919

Essay text:

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. 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...

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