Mcdonalds Vs. Burger King
- Mcdonalds is more widely known than Burger King.
- At Mcdonalds, they tend to focus more on the quality of service, than the speed of which the dish is served.
- Burger King has faster service.
- At Mcdonalds, an employee takes your order, and the same employee serves the dish.
- At Burger King, the order is taken at one place, and the food is brought to another place.
How is this Monopolistic Competition?
These two fast food restaurants are examples of monopolistic competition, because they both serve similar products, but are all slightly different. For example, A big mac and a whopper are both very popular hamburgers, but they aren't the same thing. This creates easier entry into the market for other fast food chains, because the customers will buy a product because of the quality and variations of it. Another example, A big mac vs a hamburger from a local diner. If the customer tried both products and decided they like the regular hamburger more, they have more reason to purchase that hamburger in the future because of their personal preferences like cost, taste, quality, etc.