Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products that are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of these firms' products permits them to charge prices above marginal cost. Given these observations, is the pizza industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry?

a) Oligopoly

b) Monopolistic competition

c) Perfect competition

d) Monopoly

Suppose we assume that the differentiation of the products in this industry is the reason for higher prices and profits. With respect to structure, conduct, and performance, this is consistent with:

a) The causal view

b) The feedback critique

Instead, suppose we assume that firm conduct is the underlying reason why the products in this industry are differentiated. With respect to structure, conduct, and performance, this is consistent with:

a) The feedback critique

b) The causal view