According to an article in the Wall Street Journal in 2022, although McDonald’s had been raising prices, “sales of all types of meals, particularly breakfast, were higher.”

a. Can we conclude from this information that the demand curve for McDonald’s meals is upward sloping?

Briefly explain.

b. During 2022, the prices at fast-food restaurants like McDonald’s were increasing, but they were doing so more slowly than the prices at other restaurants. The article noted that McDonald’s was “gaining some consumers who are shifting away from sit-down and fastcasual restaurants.” Does this additional information help you answer the question in part (a)? Briefly explain.