McDonald's Corporation Helps Select the Location for a New Restaurant

question 56

Multiple Choice

McDonald's corporation helps select the location for a new restaurant and provides financial assistance,training,marketing,and products.McDonald's engages in:

• A)product and trade name franchising.
• B)business format franchising.
• C)master licensing.
• D)area development.

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Definitions:

Strategy

A plan of action designed to achieve a long-term or overall aim, often used in various contexts like business, gaming, military, and personal planning.

Dominant Strategy

A dominant strategy is a course of action that yields the best payoff for a player regardless of what the other players in the game decide to do.

Payoff Matrix

A table that represents the potential outcomes or payoffs in a strategic decision-making situation, often used in game theory to illustrate the consequences of different actions.

Dominant Strategy

A strategy in game theory that is best for a player to follow regardless of what strategies other players choose.