That's exactly my point.
In a 7.5 minimum world, 15 is decent.
In a 10.1 minimum world, 15 is average.
If the minimum goes to 10, 15 will buy you what 10 does today.
you are still operating out of an econ 101 mentality.
you presume that those who use predominatly minimum wage workers pull a number out of their ass and call that their profit margin, never letting it change.
that is not how it all works.
mcdonalds has two classes of people eating their food. Those who have an affinity for it and those who use price as their primary motivation
given that, mcdonalds will always charge what the market will bear. Anyore and they will lose market share, and profit. Any less and they will leave money on the table.
if they pass a new minimum wage on, unless all others do they will lose market share. They are already charging as much as they are able.
