To: shove_it
the average Big Mac is about $3.99 and min wage is 7.25.
Labor costs around 35% so the $1.40 / mac.
Now we are hypothetically raising minimum wage to $20.00/hr this is give or take around a 3 fold increase.
So labor 3 x $1.40 = $4.20 / mac + other costs $2.60 = $6.80 / mac.
Answer: $6.80(about).
13 posted on
02/25/2015 11:14:24 AM PST by
central_va
(I won't be reconstructed and I do not give a damn.)
To: central_va
the average Big Mac is about $3.99 and min wage is 7.25. Labor costs around 35% so the $1.40 / mac. Does that figure include all the associated labor cost in the items purchased by McDonalds? Every item they purchase from the meat to the napkins has a similar cost rise impact.
25 posted on
02/25/2015 11:55:01 AM PST by
thackney
(life is fragile, handle with prayer)
To: central_va
Your example assumes only McDonalds is raising their minimum wage.
Labor factors into everything.
35 posted on
02/25/2015 12:10:55 PM PST by
gogeo
(If you are Tea Party, the eGOP does not want you.)
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