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>Even a one-time increase of 10% to 15% is unlikely to dissuade large numbers of customers from dining out. That would amount to an extra $1.20 on a $12 burger.
by Merrill 7y ago
>Even a one-time increase of 10% to 15% is unlikely to dissuade large numbers of customers from dining out. That would amount to an extra $1.20 on a $12 burger.
On the other hand, an extra $1.20 on a $3.50 burger might dissuade large numbers of customers from dining out. A $12.00 burger is pretty high end in most parts of the country.
- coldpie 7y ago> On the other hand, an extra $1.20 on a $3.50 burger might dissuade large numbers of customers from dining out. That's the whole point of the article. The experiment has been performed and they are analyzing the results. The results are that people accept a 10% increase and/or that the buying power of increased wages at the bottom expanded the market enough to make up for your hypothetical lost income.