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market, making a minimal profit. If it must increase the wages of its minimum wage workers as proposed, it has the following options:
A. Reduce profits further to absorb the'added cost.
B. Raise prices to make up the added cost.
C. Lay off workers or reduce worker hours to offset the added cost.
D. Close.
Even if option B is viable for a minimum wage increase, what is the restaurant or other employers to do with workers currently earning $5-$6 per hours. Won’t those employees expect an increase too to maintain the difference dr “spread” in job rates? If they get raises, those in the $6-$7 range will feel entitled as well, and this upward pressure will be felt throughout every employer’s pay structure. Most companies with adequate demand for their products or services will choose option B. and raise prices, in the case of a restaurant, we may choose to eat out less often, in response to those higher prices (which is why restaurants, already a risky industry, are among the most vocal in opposition to a minimum wage increase). We won’t have that luxury with the increased cost of items considered to be necessities
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