McDonald’s CEO responds to backlash over $18 Big Mac combo in latest menu hikes. Regular readers know I’ve been saying this for YEARS. This is what happens when you start payin’ somebody the better part of $20 an hour to flip burgers. In the business world, when your costs go up, you either raise the prices of the products you sell or keep prices the same and start losing money. The latter guarantees a “closed for business” sign isn’t far off. The trick is having a crystal ball to tell you how much of a price increase you can get away with before you start sheddin’ customers, which will result in the aforementioned “closed for business” shingle appearing on the door.
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