managerial economics and globalization 2

Monopolies and New Entrants

Snack food vendors and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes. When California voted on legalizing marijuana, which side would you think that California beer distributors were on? What about snack food vendors? Why? Make sure you think about and define complements and substitutes as you consider these questions.

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