Earlier quoted context omitted.
> define what is a poverty wage, it is important. If you work full time as an adult and are Medicaid eligible, you’re being paid poverty wages. > What is the change of the model in case of the restaurant? Raise the prices. It’s already happened anyway, the market has plenty of elasticity. Restauranteurs always whine about how impossible it is to raise prices, yet they seem to manage to do so just fine.
That’s a really excellent idea. On the off chance that you may be wrong in a few cases, what happens if you go out of business after raising your prices enough to get wages high enough to be where you think they should be?
Fast service restaurants have already adapted. Five Guys or Chipotle cost more for a better product. McDonalds has to remind you on the wrapper that their burger contains beef.