McDonald's and Chipotle said they will raise menu prices in California to pay for the minimum wage hikes that Gov. Gavin Newsom recently signed into law.
no matter how monopolistic you are, there is always a demand constraint
Not necessarily. People can’t choose to not eat and some people simply don’t have any other options due to factors such as living in a food desert, not being able to afford better ready-made food, lacking either the ability, time or energy (often two or all three) to cook themselves and other limiting factors.
Like with employment, the “free market” of food isn’t anywhere near as free or equal as “it’s just supply and demand” types pretend to imagine.
Not necessarily. People can’t choose to not eat and some people simply don’t have any other options due to factors such as living in a food desert, not being able to afford better ready-made food, lacking either the ability, time or energy (often two or all three) to cook themselves and other limiting factors.
Like with employment, the “free market” of food isn’t anywhere near as free or equal as “it’s just supply and demand” types pretend to imagine.