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Even if that's true, it doesn't mean he or others can afford to pay it.
by staticautomatic 8y ago
Even if that's true, it doesn't mean he or others can afford to pay it.
- tchaffee 8y agoHas he tried raising the prices of his products? Based on the average rents cited in the article, and what the average tech salary is there, his customers may well be able to afford it.
- staticautomatic 8y agoWith alcohol it's not that much cheaper than somewhere like Boulevard or Gary Danko, so unless he were to rack up some Michelin stars, I think the answer is probably no.
- tchaffee 8y agoIn a way I guess he is helping fix the problem by closing one day a week. If the supply of open restaurants go down and the demand stays the same, everyone will be able to raise prices.
- panarky 8y agoWhen the market price of jet fuel increases, airlines don't cry that they can't find jet fuel, they pay the higher price and then they raise fares. When the market price of coffee increases, coffee shops don't cry that they can't find coffee, they pay the higher price and then they raise prices. But when the market price of labor increases, employers don't raise their wages, and then they say they can't find workers and can't afford to pay more. Why is labor pricing treated differently from any other economic input?