Higher prices means fewer customers than you would have gotten with the lower prices. It does not guarantee how many fewer customers, which could be a sizable number. You willing to shell out $12 for a Big Mac and/or $20 for a “combo” meal?
“ You willing to shell out $12 for a Big Mac and/or $20 for a “combo” meal?”
The Whataburger near my house starts people at $15 and I get my Whataburger combo for just over $8.
There will be no $20 combo deals at McDonalds.
Come man, you are not that economically stupid, are you? If wages go up it is almost negligible to the end consumer. If a cook makes 60 hamburgers an hour and he gets a raise and now makes and additional $6.00/hr then that adds $0.10 more to each hamburger. See how that works?