Answer to Question #128217 in Microeconomics for Petronellla

Question

The market of kcf nandos and chicken licken has been said to be in monopolistic competition. Describe the characteristic and behaviour that links them to this market

Answer 1

The market of kfc and nandos is classiffied as monopolistic competition because they offer the same products that are not identical and these products are not perfect substitutes.

In these markets,also the descion of one firm for instance kfc does not directly affect nandos.