Ch 9 Video Case on Fast Food Discount Wars

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

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

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