Firms Such as Taco Bell and Chipotle Operate Hundreds of Restaurants

question 93

Multiple Choice

Firms such as Taco Bell and Chipotle operate hundreds of restaurants nationwide while firms such as El Pollo Loco operates only in five states.How would you characterize these stores?

• A)Taco Bell and Chipotle are oligopolists while El Pollo Loco is a monopolistic competitor.
• B)Taco Bell and Chipotle are duopolists while El Pollo Loco is a monopolistic competitor.
• C)Taco Bell and Chipotle are duopolists while El Pollo Loco is an oligopolist.
• D)They are all monopolistic competitors.

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Definitions:

Equivalent

Identical in worth, quantity, role, significance, and so on.

Consistent

Characteristics or conditions that do not contradict each other and are in harmony.

Biconditional

A logical connective between statements where both conditions imply each other; typically phrased as "if and only if".

Equivalent Statements

Propositions that have the same truth value in every possible scenario.