Which of the Following Did Paradise Kitchens Considered an Opportunity

question 35

Multiple Choice

Which of the following did Paradise Kitchens considered an Opportunity?

• A)unique,high-quality,high-price products
• B)many lower-quality,lower-price competitors
• C)lack the economies of scale of huge competitors
• D)consumer income is high and convenience is important to U.S.households
• E)more households "eating out" and bringing prepared take-out into the home

---

Definitions:

Oligopoly

A market configuration where few firms hold considerable power over setting prices and influencing competition.

Purely Competitive

Refers to a market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price-taking behavior.

Herfindahl Indexes

Measures of market concentration, calculated as the sum of the squares of the market shares of all firms within the industry.

Market Power

The ability of a firm or group of firms to influence the price and production levels in the market to their advantage, often due to limited competition.