A fast-food joint decided to raise the price of its cheeseburger from $1 to $2.It also removed accompaniments that were served with the cheeseburger.This was due to increasing commodity prices.This is an example of:

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This is an example of inflation, where the price of goods and services rises, leading to a decrease in purchasing power. The fast-food joint raised prices due to increasing commodity prices, which is a typical response to inflation.

A Fast-Food Joint Decided to Raise the Price of Its