For example, the index has ascertained that living in Juneau, Alaska is almost twice as expensive as living in Conway, Arkansas, because the price of a Quarter Pounder (with cheese, of course) is $4.82 and $2.24 in each location, respectively. cities using the Quarter Pounder as the reference point.
It's actually spawned a spinoff called the Quarter Pounder Index, which uses the exact same principle to establish the relative price of living in various U.S. The Big Mac Index (can this be what we mean when we talk about BMI from now on?) is actually a really popular method for teaching this particular aspect of economics, because it's relatable and - sorry I have to use this word - digestible. For example, when the average price of a Big Mac is $4.79 in America, and $2.74 in China, the takeaway is that the yuan is undervalued by 43 percent. The index is a sort of tongue-in-cheek demonstration of the economic principle that the relative price of something around the world is indicative of the strength of various currencies. The cost of ingredients and labor in a particular location gets reflected in the price of your food, a phenomenon that the Economist capitalized on when building an interactive-tool called the " Big Mac Index" back in 1986. You might not know this, but McDonald's prices (like almost any franchise restaurant) aren't consistent from location to location, because in some markets, the restaurants are just more expensive to run.
Interestingly, customization is only one reason that secret menu prices aren't stable. This freedom is huge, and provides you with seemingly endless options, but the flip side of that liberty is that the prices of secret menu dishes can vary wildly. But how much does the McDonald's secret menu cost? The whole idea that underpins any secret menu is that you're utilizing combinations of ingredients from across a traditional menu in order to customize a dish into exactly what you want. The McCat is out of the McBag: McDonald's has a secret menu that you can order off of, filled with options that range from the relatively mundane (like the Mc10:35, which is an Egg McMuffin with two McDouble patties inside of it) to the completely outrageous (like the Monster Mac, which is just, y'know, a normal Big Mac except it has eight patties in it).
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