The only burgers I eat are from McDonald's
McDonald's
McDonald's Corporation is an American fast food company, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechristened their business as a hamburger stand, and later turned the company into a franchise, with the Golden Arches logo being introduced in 1953 at a location in Phoenix, Arizona. In 1955, Ray Kroc, a businessman, joined the company as a franchise agent and proceeded to purchase the chain from the McDonald brothers. McDonald's had
Mac price throughout the world. Of course, someone can only eat out locally, so regional price differentials can persist; the Oslo and Cairo branches are not in competition. If the Cairo McDonald's starts "giving away" burgers the price in Oslo will be unaffected, since one is unlikely to dine in Cairo if starting the evening in Oslo, nor can one import an Egyptian meal into Norway by ordering take-out.
Understanding the Penn effect The price level.
Measuring 'the' price level involves looking at