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Category > Economics Posted 05 Jun 2017 My Price 7.00

market structure

a)      What market structure best characterizes this industry? Approximate the 3 firm and 4 firm concentration ratios (using 2010 data)? Would your market characterization change when you consider the fact that Zaxby’s, El Pollo Loco, Boston Market and Bojangles sell broiled chicken only, not fried chicken (i.e. now considering the Fast Food FRIED chicken market)? Argue that re-characterizing the market in this way is un-reasonable.  

b)     How did Chick-fil-a become the market leader? Can you infer anything regarding each firm’s ability to estimate demand? How about each firms’ ability to influence demand for its product (hint: 'eat more chikn')? 

c)      On the supply side, from the evidence given, is there any reason to assume that the firms have different cost structures at a store level? Does there seem to be a difference in Minimum efficient scale between the two firms? How does the fact that KFC is part of YUM!Brands restaurant group and Chick-fil-a is a stand-alone restaurant chain affect cost structures?

d) From the evidence given, do you think that Chick-fil-a’s recent success is a demand-side or supply-side success story? Given your answer, what might KFC do to respond?

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SuperTutor
(15)
Status NEW Posted 05 Jun 2017 06:06 AM My Price 7.00

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