One would expect higher prices. I'd also expect most decent human beings to disregard no-tip policies.
If you raise MW by a buck/year, until it hits $15, you'll have to increase the price of a Big Mac by about 3 cents a year. To get to $10.10, I'd go to $8.80, then to $10.10, a year or 18 months apart; adjust burger prices accordingly.
"If the minimum wage were increased to $15 an hour, prices at fast food restaurants would rise by an estimated 4.3 percent, according to a new study. That would mean a McDonald’s Big Mac, which currently goes for $3.99, would cost about 17 cents more, or $4.16."
thinkprogress.org
Here's a hint for $15; raise prices 20 cents on year one, with a suitable political announcement of your choice, collect a lot of extra money until wages catch up, and you'll still be making an extra 3 cents, cuz you only needed 17. When you get year's most profitable franchise, be sure to thank Rat in your acceptance speech. |
