McDonalds is not going to raise their Big Mac by 24% of the minimum wage goes up. IN fact, there labor would rise by a fraction of that, let alone entire costs. The MW adjusted for inflation would be over $10 an hour, if at the rates of 1962. A year that saw 4% unemployment. Now, worker productivity, even for fast food restaurants, has gone up a good deal since 1962, so the average employer makes much more off the average MW worker, then they did in 1962. Even if, the MW was factored for inflation, which it is not.