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AP® Microeconomics

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Demand Determinants: Application to Fast Food Pricing

APMICR-4KUE4$

Fast food restaurants often price items on their menus at or near their costs of production because they believe that higher prices of these items will decrease the demand for other items on the menu.

In this situation, which determinant of demand is the restaurant's greatest concern?

A

Tastes and preferences

B

Price of substitutes

C

Price of Complements

D

Number of buyers in market

E

Change in income