here is a link to the study that the article cites : https://irle.berkeley.edu/wp-content/uploads/2024/09/Sectoral-Wage-Setting-in-California-09-30-2024.pdf
here is a link to the study that the article cites : https://irle.berkeley.edu/wp-content/uploads/2024/09/Sectoral-Wage-Setting-in-California-09-30-2024.pdf
Well, given time, prices will move to where the businesses make the most profit. If relationship between price and demand is linear, then an increase in expenses will move the ideal price point by half as much.