In 1997,McDonald's introduced the "55-cent special." It turned out to be an unsuccessful product.In the marketplace for fast-food products,this lack of success is an example of:
A) normal profit.
B) economic costs.
C) consumer sovereignty.
D) medium of exchange.

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the power of consumers to determine what goods and services are produced. The failure of the "55-cent special" indicates that consumers did not favor the product, demonstrating consumer sovereignty in action.

In 1997,McDonald's Introduced the "55-Cent Special