Problem
McDonald's, Burger King, and Wendy's all produce hamburgers, among other things. However, if you prefer burgers from McDonald's, you might consider other burgers an imperfect substitute. With this in mind, how would you expect McDonald's to set its prices in the short run? Describe the relationship between price, marginal revenue, and marginal cost.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.