A $15 Minimum Wage Would Barely Have Any Effect on Fast Food Prices
In DepthSurprise, surprise! A new study points out that were the US to adopt a $15 minimum wage, the price of a Big Mac would rise by…*drumroll*…22 cents.
The study, from Purdue University and published in the Journal of Foodservice Business Research, shows that the average price of a Big Mac would go from $5.23 to $5.45 under a $15/hour minimum wage. It also discovered that under the tax credits available through the Affordable Care Act, offering employees health care benefits would have a “minimal effect” on prices at any fast food location with less than 25 employees.