Which of the Following Characterizes the Market That Chipotle Competes

question 5

Multiple Choice

Which of the following characterizes the market that Chipotle competes in?

• A)All "fast-casual" restaurants face horizontal demand curves.
• B)"Fast-casual" restaurants sell identical products.
• C)Barriers to entry are low.
• D)There are a small number of firms.

---

Definitions:

Economists

Professionals or scholars who study, develop, and apply theories and concepts from economics, and write about economic policy.

Affordable

Referring to something that is priced reasonably, within the financial means of most people.

R&D Spending

Expenditures devoted to research and development by governments, organizations, or companies to innovate new products and processes.

Future Expected Gains

The anticipated benefits or profits that are expected to be realized in the future from investments or decisions made today.