The Economic Perspective Used in Customer Decision Making at Fast-Food

question 194

Multiple Choice

The economic perspective used in customer decision making at fast-food restaurants is reflected in:

• A)customers selecting the shortest line.
• B)customers leaving rather than waiting if all lines are long.
• C)all customer lines tending to be of equal length.
• D)all of the above.

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Definitions:

Clayton Act

A U.S. antitrust law, enacted in 1914, aimed at promoting fair competition and preventing monopolies.

Illegal Cooperative Agreements

Illegal cooperative agreements refer to unlawful arrangements between competing businesses to fix prices, divide markets, or engage in other anti-competitive practices.

Trade Restraint

Any measure or policy that restricts international trade, including tariffs, quotas, and embargoes.

Predatory Pricing

is a competitive strategy where a company sets extremely low prices to eliminate competition and create a monopoly.