Market Structure
McDonalds
Market Structure: Mc Donald's Corporation
Mc Donald's Corporation
What type of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics that make it this type of firm?
Mc Donald's is one of world's largest chain of fast food operates in more than 119 countries worldwide with a customer base of 47 million customers. Each outlet is operated by a franchisee or an affiliate who in turn pays royalties and fees in terms of revenue (www.mcdonalds.com).In my opinion, Mc Donald's operate in a monopolistically competitive market which according to Krugman & Wells (2009)is likely to have the following characteristics:
There are many producers and many consumers in the market.
Consumers perceive that there are non-price differences among the competitors' products.
Q. 2. What type of competition does your firm face? Who are some competitors?
Mc Donald's operate in a monopolistically competitive market, facing cut throat competition from a number of the other fast food franchises such as Burger King,…
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