When the first Pizza Hut opened its doors back in 1958, it offered consumers one

Question

When the first Pizza Hut opened its doors back in 1958, it offered consumers one style of pizza: its Original Thin Crust Pizza. Since its modest beginnings, Pizza Hut has established itself as the leader of the $25 billion pizza industry. Today, Pizza Hut offers six styles of pizza, including Pan Pizza, Stuffed Crust Pizza, and its Hand-Tossed Style. Pizza Hut's strategy of rolling out new pizza offerings over time is consistent with the company competing in what type of market?

a.pure competition

b.monopoly

c.oligopoly

d.monopolistic competition

Explanation / Answer

Ans: monopolistic competition

Explanation:

Here, the Pizza Hut competes in a monopolistically competitive market in which there are large number of sellers selling differentiated pizza in the market.

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.