Subway's market structure is a monopolistic competition. Subway competes in its industry in terms of similar price points for its products along with having similar products.
Perfect competition
monopoly
This market structure is known as perfect competition. In perfect competition, there are many firms, each with a relatively small market share, and they produce and sell identical or homogeneous products. Because the products are indistinguishable, no single firm can influence the market price, leading to a situation where prices are determined by supply and demand. Additionally, there are no significant barriers to entry or exit in this market structure.
Monopoly
the role of the government in the market structure is to control inflection
Subway's market structure is a monopolistic competition. Subway competes in its industry in terms of similar price points for its products along with having similar products.
Perfect competition
monopoly
This market structure is known as perfect competition. In perfect competition, there are many firms, each with a relatively small market share, and they produce and sell identical or homogeneous products. Because the products are indistinguishable, no single firm can influence the market price, leading to a situation where prices are determined by supply and demand. Additionally, there are no significant barriers to entry or exit in this market structure.
monopolistic competition
monopolistic competition
Monopoly
The most competitive market structure is perfect competition. In this model, numerous small firms sell identical products, and no single firm can influence the market price. Characteristics include easy entry and exit from the market, perfect information for buyers and sellers, and homogeneous products. This structure leads to optimal allocation of resources and minimal economic profits in the long run.
monopolistic competition
monopolistic competition
Monopolistic competition