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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (890651)9/29/2015 11:01:40 PM
From: i-node1 Recommendation

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TimF

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There is no difference. But when you raise prices for any reason your sales will go down, and when you raise prices with higher food or labor costs you will reduce profit margins which will reduce demand for labor.

This is a function of the price elasticity of demand. For a restaurant, particularly fast food, a change in price causes a substantial corresponding change in demand. In fact, this particular industry is about as responsive to price change as it gets. There is a good bit of economic research on this topic, some of which I previously posted here.
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