If this was just McDonalds, shouldn’t there be a Burger King that didn’t raise prices to try to gain back market share?
And if this was all fast food joints, is there a common reason besides greed that it happened? If it was just greed, you would think one of their competitors could WALMART (lower prices until competition dies) them.
Because they aren’t competing in the way free market ideologists say they should. It generally takes a 200 level economics class less than a day to figure out a price cartel is far better for the companies involved. I’m sure the professionals have their back channels and third party price consultants already figured out.
If this was just McDonalds, shouldn’t there be a Burger King that didn’t raise prices to try to gain back market share?
And if this was all fast food joints, is there a common reason besides greed that it happened? If it was just greed, you would think one of their competitors could WALMART (lower prices until competition dies) them.
Because they aren’t competing in the way free market ideologists say they should. It generally takes a 200 level economics class less than a day to figure out a price cartel is far better for the companies involved. I’m sure the professionals have their back channels and third party price consultants already figured out.
Thats because they have formed an oligopoly.
A loose one but yes… They dream of set up like health insurance for example