TL;DR; You can raise minimum wage quite a bit, but prices only go up a tiny bit.

  • RustyEarthfire@lemmy.world
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    2 days ago

    menu prices increased by only 3.7%

    Worth noting this is a “difference-in-differences” study, so that change is estimating the impact of the policy alone. Folk’s observed changes will be a bit higher because they are also affected by national changes.