I have to tell you that I don't know much about Macdonals but my idea is that they are a kind of price leader in an oligopoly. They set the price and the others follow.
What I know is that at one stage they attempted to eliminate Burger King by coming up with the Value Menu where a few things were put together in a special menu for $1 each, with the idea of enticing people that could find spare cash in their cars to eat at Mcdonals and not a Burger King. However as expected Burger King came up with their own version of value meal.
I know this because at the time it was being given as an example of the prisoners dilemma in game theory.
lack of understanding, page-30
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