you cannot, in one calculation, use the number of employees in all non-McD owned restaurants plus the number of employees in McD, and the profit of only McD its

you cannot, in one calculation, use the number of employees in all non-McD owned restaurants plus the number of employees in McD, and the profit of only McD itself. i hope i don't need to explain why that is wrong. as for the number of 761,000, you seem to be right to put "employees" in quotes, even the site you link to does not call them employees. the site i linked to provides both figures. "I assume prices currently are set at levels that roughly maximize the firm's profits." -- again, you simply assume. and you forget to consider an important factor in determining where the point of maximum profits is - the costs of production. which have now, with the hiking of minimum wage, changed. so, even if they were in this theoretically perfect point of maximum profit (which is an ideal, and thus incredible to be achieved to say the least), they would automatically be out of it after the min wage is introduced, and would be forced to change prices to return to it. but this is all idealized talk, for such a point to exist we must assume a perfectly linearly elastic market. i would like to see proof of that.