BUS 312 Chapter 10 Video
Which of the following best describes the highest price that a customer is willing to pay for a fast-food chain's products?
Customer perception
With regard to supply and demand, which of the following best represents the intentions of the fast-food company's slash on prices?
Demand will increase for its products
In which type of competition do fast-food restaurants operate?
Monopolistic competition
Which of the following best describes Burger King's pricing strategy regarding its chicken nuggets during McDonald's Monopoly promotion?
Competition-based pricing
A fast-food restaurant determines the cost of producing its chicken nuggets then adds a percentage to that cost to determine the price charged to consumers. This indicates that the restaurant is utilizing which of the following pricing strategies?
Cost-plus pricing