Why does increasing the minimum wage decrease a business' profitability?

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04-11-2020
Social Studies

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Why does increasing the minimum wage decrease a business' profitability?

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Emmie937 Emmie937 · Answer 1 · 2020-11-04T03:46:46+01:00

Emmie937 Emmie937

04-11-2020

Answer: Raising the minimum wage reduces turnover. Higher wages lead to lower employee turnover, resulting in reduced recruiting and training costs. It also decreases the money of profit.

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