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Why do you assume that consumers will pay the cost of higher wages, and not owners (via lower profits)?
by Evbn 14y ago
Why do you assume that consumers will pay the cost of higher wages, and not owners (via lower profits)?
- pixl97 14y ago>and not owners (via lower profits)? Because 'free market' competition would have already reduced that cost/profit via other market factors. Assume the market is colluding on price and it's not hard to see that consumers could pay the cost.