Robot hamburger factory makes 360 Gourmet Burgers every hour...
http://www.freerepublic.com/focus/f-bloggers/3100817/posts
I think I will take the Robot and have my burger increase by 12 percent
https://www.youtube.com/watch?v=iQ_fSP3LGw8
I’d gladly pay an extra 17 cents for a Big Mac to get service without an attitude.
I would hazard that the prices would go up a bit more than what the author claims is "exactly the amount" though...
Real answer = $0.00
I’d like to see this study reviewed by Thomas Sowell or someone else of similar qualifications. There are just too many ways to structure a study in such a way that it produces a predetermined outcome. Michael Mann’s infamous hockey stick comes to mind.
Three and one half ouncer?
Just does not sound right.
Quarter pounder; has a ring to it.
The answer: I will spend less money on fast food.
This moron must have $hit for brains if he thinks it would only go up a few pennies a burger.
No mo dollar menu.
Sorry Purdue, your "assertion," must come from valid data, and analysis. I didn't see your data, or your analysis in the article.
My quick analysis shows a Big Mac increasing $1.10, all things remaining equal.
So many studies, so much wasted paper.
5.56mm
Doesn’t take into account the across-the-board retail price hikes which accompany MW raises.
People actually in the restaurant business think it is more like an $.80 increase in a Big Mac, but what do they know?
The projected price of a Wendy’s Frosty is all I care about.
It already costs well over $6 for a combo meal at McD. I can get 2 pieces of chicken, a side, a biscuit, a cookie and a drink at KFC for $5. And McD wonders why their sales are plummeting...
Liberals are terrible at math. They are counting a single person making the entire Big Mac meal.
When labor costs nearly double to $15/hr, and labor is 20% of a McD’s operating costs, it means costs must go up 20%.
That $7.68 Big Mac meal would be $9.21 to cover the added 20% labor expenses.
Of course, the market states how much a person will pay for a Big Mac meal. McDs might not get $9.21. They may have to hold prices down.
An average McDs makes only $2.5 million in sales with an average of 6% net profit, or $150,000. There isn’t much room for a 20% loss, taking profits down to $120,000. Some MD operators are not making but $40,000 profit, now they’ll make $32,000.