There are many restaurants in a city, each one offering food and services that differ from those of its competitors. There is also free entry of sellers into the market, and each seller serves a very small fraction of the total number of meals served each day. The restaurant industry in Raleigh is best categorized as:
Yes they are competitive, but taking into cognisance that they offer differing services and there is a level of uniqueness with each restaurant , so there is a monopolistic competition between them.
