Figure: 13-3
-Using Figure 13-3,how much price competition is most likely available for small coffee shops?
A)There is almost none; the market sets the price.
B)There is some competition within a range of prices.
C)There is generally a price leader that sets the price.
D)Starbucks sets the price and all other coffee shops follow its lea

Question

Figure: 13-3 
-Using Figure 13-3,how much price competition is most likely available for small coffee shops?
A)There is almost none; the market sets the price. 
B)There is some competition within a range of prices. 
C)There is generally a price leader that sets the price. 
D)Starbucks sets the price and all other coffee shops follow its lea

Quizplus · Accepted Answer

In Figure 13-3, there are several coffee shops offering coffee at different prices, indicating that there is some competition within a range of prices. However, it may not be a significant amount of competition as the prices are relatively similar. Starbucks is not the only coffee shop, and there are variations in prices among competitors, indicating that there isn't a price leader that sets the price. Therefore, option B is the most likely choice.

Figure: 13-3 -Using Figure 13-3,how Much Price Competition Is Most Likely Available