As someone who lived on $800/month (rent was $235 for my share), I'm wondering what would have happened if all of us had 3x that amount to live on each month. I

As someone who lived on $800/month (rent was $235 for my share), I'm wondering what would have happened if all of us had 3x that amount to live on each month. I imagine rent would have gone up substantially as would other expenses if it was understood that we could afford double or triple that amount. My guess is that the people barely making ends meet on a minimum wage job would barely make ends meet on a basic income + minimum wage job, regardless of actual amounts. Is anyone familiar enough with the economists arguments to explain this?