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No, you have seriously misunderstood economics if you think it predicts that all restaurants in California will close. Lookup supply and demand curves. The pric
by hueving 10y ago
No, you have seriously misunderstood economics if you think it predicts that all restaurants in California will close. Lookup supply and demand curves. The price to eat out will just increase, which will subsequently decrease demand and there will be fewer restaurants.
- coldtea 10y agoOr some restaurant owners will just absorb some lost profit margins (for which the difference in new minimal wages paid could have minimal effect anyway)...