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News@lemmy.world · 1 day ago

California’s Fast-Food Minimum Wage Hike Didn’t Cut Jobs or Raise Prices Significantly, Study Reports

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California’s Fast-Food Minimum Wage Hike Didn’t Cut Jobs or Raise Prices Significantly, Study Reports

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News@lemmy.world · 1 day ago

Plus, In-N-Out hacks, Estrano returns, and more

https://archive.ph/VNXLW

here is a link to the study that the article cites : https://irle.berkeley.edu/wp-content/uploads/2024/09/Sectoral-Wage-Setting-in-California-09-30-2024.pdf

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Assuming a linear relationship between price and demand, then if you increase the cost of product, the price where the most profit is generated moves by half of this amount.

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