Re:$15 minimum wage didn’t hurt NYC restaurants
by barry-cotter on Tuesday October 29, 2019 @08:44AM
(#21386480)
No, because all of the people who were marginal customers will just forgo your product or service. You can pass on all of an increase in costs for goods with price inelastic demand. If demand is elastic you either have to eat the margin or go out of business.
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