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McDonald's, Wendy's and Jack in the Box each sell their own type of hamburgers. If McDonald's increases the price of its hamburgers it will lose

McDonald's, Wendy's and Jack in the Box each sell their own type of hamburgers. If McDonald's increases the price of its hamburgers it will lose some customers to Wendy's and Jack in the Box but some of its customers will remain loyal to McDonald's. What market structure best describes these firms? Group of answer choices Perfect competition. Monosony. Monopolistic competition. Oligopoly. Monopoly

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