In Dubai there are three very popular supermarkets: Spenies, Carrefour, and LuLu hypermarket. While Spenies remains open twenty -four hours a day; Carrefour and LuLu close at midnight. Which of the following statements is true?
A) Spenies has a monopoly at midnight but not during the day.
B) Spenies is a monopoly all day because it produces a service that has no close substitutes.
C) Spenies probably has a higher markup to compensate for its higher cost of production.
D) Spenies can ignore the pricing decisions of the other two supermarkets.
Correct Answer:
Verified
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