Which of the Following Will Decrease the Demand for Fast-Food

question 142

Multiple Choice

Which of the following will decrease the demand for fast-food burger workers' labor?

• A) More people start working two jobs and eat more fast food.
• B) The price of pizza, a substitute for burgers, decreases.
• C) A new technology allows burgers to be produced faster.
• D) Workers get additional training that increases productivity.
• E) Workers form a union and get higher wages.

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Definitions:

Lower Limit

The minimum threshold or boundary for a variable or parameter within a given context, such as statistical control limits.

Cost-Based Pricing

A pricing method that determines the selling price of a product by adding a markup to its total cost.

Mark-Up Percentage

The percentage added to the cost price of goods to cover overhead and profit in the selling price.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good.