Answer to Question #245336 in Microeconomics for beys

Question

Suppose you will open a new business with choices as follows:

1. Open a compute shop near a school where there are many other computer

shops.

2. Start the first and only Barbershop service in your neighborhood

3. Open a bike accessories store in your area that has only 2 other bike

accessories stores.

4. Create a unique clothing line that targets Gen Z.

 Which business would you open? The factors that influence your decisions

are characteristics that economists use to describe the level of

competition in the market.

 Give at least 3 reasons to justify your selection using what you’ve learned

about market structure.

Answer 1

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