Recall the Application about food and drink pricing during "happy hour" at bars and restaurants to answer the following question(s).
-Recall the Application. The happy hour combination of higher demand and lower prices is in accordance with the model of perfect competition.

Question

Quizplus · Accepted Answer

While the happy hour combination of higher demand and lower prices may be consistent with the model of perfect competition, it does not necessarily guarantee perfect competition. Other factors such as market structure, barriers to entry, and industry regulation can also have an impact on whether or not perfect competition is present in the market for food and drink during happy hour.

Recall the Application About Food and Drink Pricing During "Happy