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by civilframe
3972 days ago
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> Businesses can't just raise prices and get more revenue.
Right, businesses gauge how much consumers are willing to pay. If minimum wages go up and businesses raise prices while citing said minimum wage increases, consumers will likely be willing to pay the higher prices. Consumers generally won't tolerate price increases that are not justified. Those increases that are justified are more readily accepted. This is why I think businesses can and will pass higher minimum wage costs down to the consumer, successfully. |
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