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Answer: It raises prices for everyone, because the vast majority of companies will not simply absorb the hit to profitability, assuming they even have the abili
by vlucas 11y ago
Answer: It raises prices for everyone, because the vast majority of companies will not simply absorb the hit to profitability, assuming they even have the ability to absorb a cost increase that large at all.
- phaemon 11y agoYour answer appears to be wrong. Here are inflation figures for the UK from 1990 to 2015: http://www.rateinflation.com/inflation-rate/uk-historical-inflation-rate?start-year=1990&end-year=2015 http://www.rateinflation.com/inflation-rate/uk-historical-in... Can you spot the year that minimum wage was first introduced in the UK?