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| Re: $15 minimum wage permits few luxuries in US cities (1191053) | |||
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Re: $15 minimum wage permits few luxuries in US cities |
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Posted by AlM on Thu Jun 5 03:25:30 2014, in response to Re: $15 minimum wage permits few luxuries in US cities, posted by Spider-Pig on Wed Jun 4 21:37:52 2014. If the cost of making those widgets went up, they'd still be priced at $100.But it's also important to note that if the cost went above $100, you'd raise the price and sell fewer of them. And in fact, even if the cost came anywhere near $100, you'd probably raise the price an sell fewer of them. And furthermore, if you could really make them for $.25 and sell them for $100, pretty soon you'd have competitors selling them for $50, and eventually the price would drop to $.25 (assuming the $.25 includes your return on investment) if there weren't any significant barriers to market entry. |
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