how might an increase in the minimum wage affect nonwage compensation for low-wage workers?
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how might an increase in the minimum wage affect nonwage compensation for low-wage workers?
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Explanation:
Economists find that businesses pass minimum-wage costs on to their customers by raising prices. Consumers, not business owners, bear the burden. The poor and middle class spend more on goods produced by minimum-wage workers than the wealthy do. Consequently, minimum wages raise prices more on the poor.