Impeccable service in an elegant atmosphere

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Reference no: EM131232645

There is a restaurant in downtown Chicago called TRU. It offers a specialized menu with multiple courses, matching wines, impeccable service in an elegant atmosphere. The price for a meal for two can exceed $500. The dining room seats 70 people. Explain which of the four types of competition this would fit and why. Does this restaurant have pricing power? Is it a price maker or price taker?

Reference no: EM131232645

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