The fast food industry is extremely competitive and in some cases close to perfect competition. Identify 2 fast food chains which you feel have almost identical products and pricing and identify the almost identical products that they both sell. 2. Of the 2 that you identified, explain a strategy that one or the other has used in an attempt to gain more control of its respective market and a strategy that you think would work better. 3. Explain in detail how you think trademarks and patents go against the idea of perfect competition. 4. Now explain whether you feel that trademarks and patents are examples of unfair competition or are necessary for technological and social advancement.
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