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> On the other hand, an extra $1.20 on a $3.50 burger might dissuade large numbers of customers from dining out. That's the whole point of the article. The exp
by coldpie 7y ago
> On the other hand, an extra $1.20 on a $3.50 burger might dissuade large numbers of customers from dining out.
That's the whole point of the article. The experiment has been performed and they are analyzing the results. The results are that people accept a 10% increase and/or that the buying power of increased wages at the bottom expanded the market enough to make up for your hypothetical lost income.