Comments by "N Marbletoe" (@nmarbletoe8210) on "Australian McDonalds Workers Paid Like No Worker In America Ever Has" video.

  1. we do need coffee shops tho
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  2. In economic terms, Rachel K is saying that restaurant industry is 'elastic' with respect to supply and demand. If prices go up, people have a choice of not buying (unlike electricity or basic foodstuffs). Elasticity in a market tends to stabilize prices. It would make it harder for a chain to simply increase prices to cover a higher wage. Maybe just a little harder overall, but losing customers is a concern for any business. I'm in favor of a higher min wage, but there are costs as well as benefits to society and to individuals and businesses.
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