Suppose you are the manager of a pizza restaurant chain. You are planning to open new outlets in Mumbai and New Delhi. You know the prices of the cheapest pizza from other outlets in each city. You are given the task of setting competitive prices for your menu.

Suppose you are the manager of a pizza restaurant chain. You are planning to open new outlets in Mumbai and New Delhi. You know the prices of the cheapest pizza from other outlets in each city. You are given the task of setting competitive prices for your menu.Pizza Prices in Mumbai (₹) Pizza Prices in Delhi (₹)480 500450 330350 340220 1,800350 250- 210 Question 3/4MandatoryMedianWhat is the median price for Mumbai and Delhi, respectively?₹350 and ₹335₹350 and ₹330₹220 and ₹340₹420 and ₹330

Suppose you are the manager of a pizza restaurant chain. You are planning to open new outlets in Mumbai and New Delhi. You know the prices of the cheapest pizza from other outlets in each city. You are given the task of setting competitive prices for your menu.Pizza Prices in Mumbai (₹) Pizza Prices in Delhi (₹)480 500450 330350 340220 1,800350 250- 210 Question 4/4MandatoryMode What is the mode for Mumbai and Delhi?Mumbai: ₹350, Delhi: No modeMumbai: ₹350, Delhi: ₹340Mumbai: ₹420, Delhi: No ModeMumbai: No mode, Delhi: No mode

Suppose you are the manager of a pizza restaurant chain. You are planning to open new outlets in Mumbai and New Delhi. You know the prices of the cheapest pizza from other outlets in each city. You are given the task of setting competitive prices for your menu.Pizza Prices in Mumbai (₹) Pizza Prices in Delhi (₹)480 500450 330350 340220 1,800350 250- 210 Question 2/4MandatoryCentral TendenciesWhy do you think the mean price for Delhi is higher than the mean price for Mumbai?

The market structure of the local pizza industry is best characterised by monopolistic competition. Pizza Shack is one of the producers in the local market.The market demand for Pizza Shack is: Qd = 225 – 10P.Pizza Shack’s cost function is: C(Q) = 0.15Q^2NOTE: Q^2 refers to q squared1. Monopolistic competition is characterised by  Blank 1. Fill in the blank, read surrounding text. and free entry and exit.

With the aid of a strategic group map for the pizza segment of the food service industry, one canMultiple Choiceidentify easily the entry and exit barriers for each strategic group and intersegment competition with other casual restaurants.measure accurately whether across-group rivalry among pizza establishments is stronger than within-group rivalry, and vice versa.identify which competitive forces are strong and which are weak for pizza restaurants.reveal which pizza establishments are close competitors and which are distant rivals, and that not all positions on the map are equally attractive.pinpoint precisely which pizza restaurants are in profitable strategic groups and which are not.