2 ms·
I expect the slumlords are the major recipients of increased minimum wage, not the workers. In a perfectly inelastic market, such as Southern California housing
by jmpman 2y ago
I expect the slumlords are the major recipients of increased minimum wage, not the workers. In a perfectly inelastic market, such as Southern California housing, landlords can keep raising rents until the lowest end of the market can no longer afford housing.