Let me tell you something, when I was a little girl, I use to go to White Castle and buy these little square hamburgers for 15cents. Today, that same [tigerred59]in burger is 1.15cents. Same everything, same same same.....now one would think, with a price increase that drastic, they'd be out of business....but no, WC starts all their employees out with 8-9 an hour, good benefits and their burgers are good. A good business can sustain change... a bad one can not.....if your product is good and people want it, they'll pay the increase changes, if it sucks, syronada!!
You do know about inflation, right—the process by which, as the value of a currency declines, it takes more units of that currency to buy the same product?
Assuming that the real price of a White Castle burger has stayed fairly constant, relative to inflation, what your anecdote tells us is that in the time since you were a little girl, the value of a dollar has declined to slightly less than 1/8, now,of what is was worth, then.
What do you think would happen if such an increase were to suddenly happen, now, if the price of a White Castle burger, as measured in dollars, were to suddenly increase to $8.82, while the incomes of prospective customers, as measured in those same dollars, remained the same? Do you think White Castle would continue to sell the same number of burgers?