MSN News, August 29, 2013, Thursday

MSN News

August 29, 2013, Thursday

MSN News (full article)

Would wage hike mean a pricier Big Mac or Whopper?

Kate Bronfenbrenner, director of labor education research at Cornell University, said that in general, companies find other ways to respond to increasing wages other than raising costs more than a small percent because they do not want to lose customers.

"Right now people at McDonald's don't make enough money to buy food at McDonald's," she said. "If discount stores and fast food becomes more expensive for those who are making minimum wage — then who is going to shop at those stores?"