towson university economics professor thomas rhoads studies makrest and how they react to change. 21:04:06 "labor typically is somewhere around sixty to seventy percent of a business's cost" and his take, an artficial wage floor imposed by the government could have unintended consequences. 21:01:52 "there are trade-offs, so if you're a small business or a big business you have to pay your unskilled workers or just anybody ten bucks an hour, you're forced to do things to make-up the difference." one of those consequences higher prices for basic goods and services that could impact low wage workers the most. 21:03:58 "one of the responses businesses can make they are forced to pay higher minimum wage is to raise prices of the goods they are selling and try to make up the costs of labor." in fact, research suggests key prices did indeed rise after the most recent increase in the minimum wage went into effect. this paper from the economic policy research council published in 2013 food cited a study which concluded food prices rose roughly four percent the last time federal mimunm was rais

towson university economics professor thomas rhoads studies makrest and how they react to change. 21:04:06 "labor typically is somewhere around sixty to seventy percent of a business's cost" and his take, an artficial wage floor imposed by the government could have unintended consequences. 21:01:52 "there are trade-offs, so if youe a small business or a big business you have to pay your unskilled workers or just anybody ten bucks an hour, you're forced to do things to make-up the difference." one of those consequences higher prices for basic goods and services that could impact low wage workers the most. 21:03:58 "one of the responses businesses can make they are forced to pay higher minimum wage is to raise prices of the goods they are selling and try to make up the costs of labor." in fact, research suggests key prices did indeed rise after the most recent increase in the minimum wage went into effect. this paper from the economic policy research council published in 2013 food cited a study which concluded food prices rose roughly four percent the last time federal mimunm was raised