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Monopoly: By the Numbers Consider market power in the production of electricity. The accompanying table details the supply of electricity in the United States by energy source for the past decade. Net Generation by Energy Source (Million Megawatthours) Natural Year Coal Petroleum Hydro- Nuclear Total Gas |Conventional Wind Solar Generation 2007 2,016 66 897 806 248 34 0.6 4,067.6 1.986 16 883 806 255 55 0.9 4,031.9 2009 1,756 30 921 799 273 0.9 3.862.9 2010 1,847 37 988 807 260 1.2 4,035.2 2011 1,733 30 1,014 790 319 120 1.8 4,007.8 2012 1,514 1.226 760 276 141 4.3 3,953.3 2013 1,581 27 1,125 789 269 168 3,968.0 2014 1,582 30 1,127 797 259 182 17.7 3,994.7 2015 1,352 28 1,333 797 249 191 24.9 3,974.9 2016 1,239 24 ,378 806 268 227 36.1 3,978.1 2017 1,206 21 1,296 805 300 254 53.3 3,935.3 Consider each energy source used in the production of electricity. Place each energy source in order from largest to smallest based on the total production of electricity in 2017. Largest Smallest Answer Bank petroleum natural gas coal wind solar nuclear hydro-conventionalMonopolistic Competition, Oligopoly, and Game Theory: By the Numbers The fast-food industry is a multibillion dollar industry with hundreds of thousands of franchises across the country. Consider the accompanying table, which lists total sales and the number of U.S. stores for the largest 20 fast-food companies. 2017 U.S. sales 2017 Number of Company ($ millions) U.S. stores McDonald's 37.48 14,036 Starbucks 13,167 13.930 Subway 10,800 25,908 Burger King 10,028 7,226 Taco Bell ,790 ,446 Vendy's 9,288 5,769 Dunkin' Donuts 3,192 12,538 Chick-fil-a 0.000 2,225 Domino's 5,90 5,587 Pizza Hut ,51 1,52 Panera Bread i,504 1043 Chipotle .47 2,371 KFC 4,417 4,109 Sonic 4,408 3,593 Dairy Queen .640 .45 Arby's .634 3,41 Little Caesars 3,531 1,332 Jack in the Box 3.469 2,251 Popeyes Louisiana Kitchen 3,213 2,231 Papa John' 3,209 3,314 Total 159,658 133,301 Fast-food chains exhibit characteristics of both monopolistic competition and oligopoly. Consider the competitors ald's and Subway- McDonald's has Subway, yet it sells product than Sub about the same number of stores as significantly less significantly more stores than significantly more Determine in what significantly fewer stores than monopolistic competif about the same amount of ble an oligopoly. Move c... -Scribes.Determine in what ways McDonald's and Subway resemble monopolistic competitors and in what ways they resemble an oligopoly. Move each item to the type of industry it best describes. Monopolistic competition Oligopoly Answer Bank Together, Subway and McDonald's largely dominate the market for fast-food. Subway primarily offers sandwiches and salads, while McDonald's primarily offers hamburgers. Following McDonald's lead, Subway began offering a value menu in the carly 2000's. Both McDonald's and Subway spend hundreds of millions of dollars on advertising, much of it aimed at convincing consumers that their products are superior in those of competitors