Restaurants are raising menu prices as wages grow and inflation hits ingredients and packaging. But they still want customers to feel like they’re getting a good deal.
Click here to read the story at cnn.com.
Discussion Questions:
- What is price?
- What factors influence price?
- What is the difference between fixed and variable costs?
- What are some examples fixed costs that a restaurant might incur?
- What are some examples variable costs that a restaurant might incur?
- What is inflation?
- Why are restaurants raising menu prices?
- Why do they want customers to feel like they are getting a good deal?
- What is value?
- What is the difference between price and value?
- Based on information from this story, how are restaurants raising prices but positioning the menu as a good value?