Thats because they have formed an oligopoly.
Comment on Mildly McInfuriating
randon31415@lemmy.world 3 weeks ago
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.
piccolo@sh.itjust.works 3 weeks ago
Maggoty@lemmy.world 3 weeks ago
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.