Daddio7 Wrote:
Feb 18, 2013 10:44 AM
Monopolys are doing that, think Apple, but in competitive markets raising prices will force your customers to your lower priced competition. If every producer raises prices to cover higher labor cost consumers will be forced to pay the higher prices, if they can afford to. Most people spend 100% of their income so if they pay more for one thing they have to spend less on something else. Giving one person more money means another gets less.