McDonald's Famous Golden Arches and Other Marks Used by the Company

question 36

Multiple Choice

McDonald's famous golden arches and other marks used by the company illustrate a

• A)suggestive mark.
• B)service mark.
• C)certification mark.
• D)collective mark.

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Definitions:

Long-Run Equilibrium

A state in which all firms in a market are making normal profits and there is no incentive for market entry or exit, usually achieved in the long term.

Demand Increases

Situations or conditions that lead to a rise in the quantity of a product or service that consumers are willing and able to purchase.

Market Supply

The total quantity of a good or service that all producers in a market are willing and able to sell at various prices.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that all suppliers are willing to produce and sell.