The starfire coffee chain was the only coffee-shop chain and meeting place in many american cities for more than 12 years. people paid $5 for a mug of peppermint coffee and the experience of sitting in front of a roaring fire, chatting with friends. twelve years after starfire's appearance, a similar coffee-shop chain, reindeer brews, entered the marketplace. reindeer charges $3 for a mug of hot cocoa and a similar community experience. how would you characterize this scenario?

A new competitor has circumvented the entry barriers and entered in the former monopoly that Starfire Coffee chain has held for 12 years. In this case the entry barriers were double.

On the first hand, the potential competitor had to be able to produce at a low cost to compete in prices with the already established firm. It was able to achieve so by offering the same product for 3 instead of 5.

Moreover, it had to compete with a firm that counted with the loyalty of customers. This loyalty is actually the base of its monopoly. In such case, the potential competitor needs to develop a high quality product that is able to attract and change the consumption habits of consumers who were loyal to the former monopolist.

the branch of biology that deals with the normal functions of living organisms and their parts.

the way in which a living organism or bodily part functions.

1.) question:

how was the agricultural revolution related to the industrial revolution?

d.) improved agriculture led to population growth, which increased demand for goods.

2.) question:

which of the following happened first in the events leading to american independence?

c.) the meeting of the first continental congress.

3.) question:

what was one advantage that cities offered businesses and industrialists?

answer:

d.) transportation networks

4.) question:

what economic philosophy developed in response to the problems of industrial workers?

a.) socialism

5.) question:

how does this image relate to the jacobins?

b.) the jacobins used this machine to scare and execute those who supported the king.

hope this !