Would these two strategies be an example of a firm in a monopolistically competitive industry attempting to differentiate its product? if not, briefly explain why the ceo may have decided to pursue these strategies.
a. yes, because red robin is trying to differentiate its products in order to compete with other firms.
b. yes, because red robin is trying to sell a product that is identical to its competitors to capture short-run profits.
c. no, because red robin is simply trying to produce and serve menu items at the lowest possible cost.
d. no, because red robin is copying the strategies of panera bread and mcdonald's in order to lower its costs of production.