Decide whether each of the following three statements is true or false and expla

Question

Decide whether each of the following three statements is true or false and explain why. Statement #1: Fast-food chains like McDonald's, Burger King and Wendy's operate all over the United States Therefore the market for fast food is a national market This statement is ( A. false because some people have strong preferences for a particular brand of fast food O B. false because people do not travel long distances to purchase cheaper fast food. C. true because there is arbitrage between fast food restaurants. O D. false because people are generally not influenced by the price of fast food. E. true because these firms operate nationwide

Explanation / Answer

E true because these firms operate nationwide. Please like answer if you want me to help you in future

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