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> 70% of that increase in prices is empirically passed on to consumers in the form of higher prices This depends entirely on the price elasticity of demand.
by Eridrus 11y ago
> 70% of that increase in prices is empirically passed on to consumers in the form of higher prices
This depends entirely on the price elasticity of demand.
- Symmetry 11y agoYes but I don't think we have any reason to expect major changes in that. And if that were to change then I'd expect us to see minimum wage hikes to start causing unemployment.