In 2011, Red Robin Announced That It Would Open 12

question 49

Multiple Choice

In 2011, Red Robin announced that it would open 12 fast-casual restaurants, and in 2016 the company decided to abandon the fast-casual restaurant business.Which of the following reasons relating to the characteristics of monopolistic competition did the company give for getting out of the fast-casual restaurant business?

• A)Barriers to entry were too high.
• B)The restaurants were not differentiated enough from their full-service restaurants.
• C)There were very few buyers and sellers in the market.
• D)Standardized pricing in the industry gave them no potential to earn a profit.

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Definitions:

Algorithm

An algorithm is a step-by-step procedure for calculations, data processing, and automated reasoning tasks.

Implementing The Solution

The process of converting a plan, design, or algorithm into a functioning program or code to solve a specified problem.

Classes

In object-oriented programming, these are blueprints from which individual objects are created, containing fields and methods to define the object's properties and behavior.

OOD

Short for Object-Oriented Design, which is a programming paradigm based on the concept of "objects" that contain data in the form of fields, and code, in the form of procedures.