In a store or restaurant, music tempo is an atmospheric tool that firms engaging in monopolistic competition can use to increase customer spending and time.
Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
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At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study…
Retailers face the prisoners’ dilemma when deciding whether to keep next day shipping guarantees on December 23rd because a decision relates to what others do.
Because restaurants engaging in monopolistic competition need to differentiate themselves, they use their menu language to show their high or low price qualities.
Shaped by monopolistic competition, the behavior of McDonald’s and Starbucks attracts different groups of consumers.
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