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Quick service restaurants have saturated the market. One strategy some quick service restaurants are using to increase sales is:
• serving fine dining food
• offering alcoholic beverages
• co-branding at stores and other non-traditional locations
• hiring very skilled labor to enhance quality
Product Price
The amount of money charged for a product or service, determined by cost, demand, and supply factors.
Labor
The exertion of both mental and physical capabilities towards the creation of products and services.
Marginal Revenue Product
Extra profits generated by incorporating another unit of a production element.
Worker
An individual engaged in a particular labor or job to earn a living, contributing to the production process.
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