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Re:When McDonalds Came to Denmark by mrep on Wednesday September 22, 2021 @08:02AM (#28615371)
Are you being sarcastic? The food industry is generally used as the textbook example for the market most resembling perfect competition which as defined straight from wikipedia: "Such markets are allocatively efficient, as output will always occur where marginal cost is equal to average revenue i.e. price (MC = AR). In perfect competition, any profit-maximizing producer faces a market price equal to its marginal cost (P = MC)".

https://en.wikipedia.org/wiki/Perfect_competition

Re:When McDonalds Came to Denmark by cycomanic on Wednesday September 22, 2021 @05:45PM (#28622306)
The restaurant industry certainly is not a market resembling perfect competition, I mean we can just look at the vastly varying prices between restaurants, which certainly can't be attributed to cost. Even if we talk about the food industry more generally, I mean there's like 3 or 4 different brands of milk in my supermarket which vary in price by 100% I hardly doubt that their cost varies by that much.