Question

I BET NO ONE KNOWS THIS

Three restaurants in town sell hamburgers. Restaurant A increases the price of its hamburger to $2; Restaurants B and C follow the example and increase the price of their hamburgers to $2 as well. This an example of:

a. perfect competition.

B. a monopoly.

C. monopolistic competition.

D. an oligopoly.

Answer 1

c I believe because it means to offer products or services that are similar just like the prices of the hamburgers