Analysis of McDonald's Fast Food Products Using Managerial Economics

This report delves into the application of managerial economics to McDonald's fast food products. It begins with an introduction to managerial economics and its relevance to business decision-making, followed by an overview of McDonald's product offerings. The main body of the report examines demand and market equilibrium under the influence of various external factors, including the price of substitutes and complements, consumer income, tastes, and expectations. It also analyzes price elasticity of demand, considering substitution effects and consumer income. Finally, the report explores suitable pricing policies for McDonald's products, concluding with a summary of key findings and a list of references including books and journals, and online resources. The report provides a comprehensive analysis of McDonald's business strategies through the lens of managerial economics.