Business, 27.11.2019 01:31 briseno138

Mcdonald’s, burger king, and wendy’s all produce hamburgers, among other things. however, if you prefer burgers from mcdonald’s, you might consider other burgers an imperfect substitute. with this in mind, which of the following statements would be correct about mcdonald’s prices in the short run?

a. mcdonald’s will maximize profits by producing where marginal revenue equals marginal cost.
b. mcdonald’s will charge a price higher than marginal revenue and marginal cost.
c. mcdonald’s will charge a price equal to marginal cost.
d. mcdonald’s will set its prices like a perfect competitor.
e. mcdonald’s consumers will pay a higher price as long as it is worth the value they place on their preference for mcdonald’s burgers.
f. mcdonald’s will set its prices like a monopolist.

Answers: 3

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Answer from: Caleb0018

Correct statements about McDonald's price in given scenario are given below.

Explanation:

1. McDonald's will maximize profits by producing where marginal revenue equals marginal cost.

2. McDonald's will charge a price higher than marginal revenue and marginal cost.

3. McDonald's consumer will pay a higher price as long as it is worth value they place on their preference for McDonald's burgers.

4. McDonald's will set it's price like a monopolist.

McDonald's compete in market with two other competitor. Consumer prefer McDonald's burgers and consider other two firms burgers as a imperfect substitute.

In this scenario McDonald's will act like a monopoly in burger market.

Answer from: skyvargasov9cad

Correct statements about McDonald's price in given scenario are given below.

Explanation:

1. McDonald's will maximize profits by producing where marginal revenue equals marginal cost.

2. McDonald's will charge a price higher than marginal revenue and marginal cost.

3. McDonald's consumer will pay a higher price as long as it is worth value they place on their preference for McDonald's burgers.

4. McDonald's will set it's price like a monopolist.

McDonald's compete in market with two other competitor. Consumer prefer McDonald's burgers and consider other two firms burgers as a imperfect substitute.

In this scenario McDonald's will act like a monopoly in burger market.

Answer from: Quest

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

Answer from: Quest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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