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One reason why the coffeehouse market is competitive is that A. it is trendy and therefore is likely to have a customer following. B. demand for coffee is very high. C. barriers to entry are low. D. consumption takes place in public.

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akposevictor

The likely reason why the coffee house market is described as competitive is because: C. barriers to entry are low.

Characteristics of competitive market?

A competitive market is a market structure having the following characteristics:

  • There are many producers and consumer.
  • A single producer nor consumer cannot dictate the market.
  • Goods and services do not vary between producers (Homogenous products).
  • Free entry and exit (no entry barrier).

Thus, coffee house is an example of competitive market.

there are many coffee houses and many buyers of coffee. Coffee produced can be said to be homogenous. More so, there is no stiff standards preventing people from venturing into coffee business.

Therefore, the likely reason why the coffee house market is described as competitive is because: C. barriers to entry are low.

Learn more about competitive market on:

https://brainly.com/question/24781573

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Universidad de Mexico