(Last Word) Raising the minimum wage in the restaurant industry

Question

Quizplus · Accepted Answer

Raising the minimum wage in the restaurant industry may cause mom and pop restaurants to struggle to keep up with highly capitalized chain restaurants, as they may face higher costs without the same resources or economies of scale. This can make it harder for them to compete on price and profitability, potentially leading to closures or consolidation in the industry. However, this may not necessarily give chain restaurants a significant advantage, as they may also face higher costs and wage pressure, and may not necessarily benefit from increased demand in the same way as smaller, local establishments.

(Last Word) Raising the Minimum Wage in the Restaurant Industry