Question

Melanie wants to open a restaurant near Central Park in New York. She understands that there are many restaurants in the vicinity, as well as many restaurant chains with which she has to compete. Although it would be easy to get into this market, she plans to profit in it by selling her different dishes at prices that are lower than those of other restaurants. What kind of market structure is Melanie planning to use for her restaurant?

Answer 1

Answer: Monopolistic Competition

Step-by-step explanation:

I got it right

Answer 2

Perfect Competition.

Step-by-step explanation:

Melanie wants to open a restaurant near central park New York. There are many restaurants in the vicinity. She has to compete in this market. She can enter the market by opening her own restaurant with different dishes and a but lower price as compared to the other restaurants. So she is planning to use the Perfect Competition in order to enter the market of similar products.