> First, employers in the US and Europe have reported that they can easily pass on minimum wage increases to customers. To ‘blackboard’ economists this makes no

> First, employers in the US and Europe have reported that they can easily pass on minimum wage increases to customers. To ‘blackboard’ economists this makes no sense – after all, if customers were prepared to accept higher prices, the companies would have already tried to increase them Wouldn't competition between businesses for those customers keep prices low than the max customers were willing to bear, and then a minimum wage just raise the min bar?