Harikus, wrong. The point isn't whether or not the costs are elastic. It's whether or not an across the board increase of such a small amount would effect demand. In a micro-economic level, yes you are correct. In a macro -level, no you are not.
Herman Cain didn't prove anything. The costs of goods would simply go up since the health care plan the Clinton suggested would cover all competitors equally. His accounting is good, but his economics is poor.
The problem is that if the demand for eating out is elastic (an increase in price substantially decreases the amount purchased) then the business CAN'T pass the cost onto customers that much without losing a lot of business. All businesses, small and large suffer because they must either eat the cost or cut employees. If you are a incredibly labor intensive business that cuts jobs, you will overwork your employees and potentially decrease productivity. Leftwing, anti-business rhetoric aside
dang listening to this i WAS BORED! MATH CLASS
will1nice 3 months ago
Harikus, wrong. The point isn't whether or not the costs are elastic. It's whether or not an across the board increase of such a small amount would effect demand. In a micro-economic level, yes you are correct. In a macro -level, no you are not.
kontar72 4 months ago
Herman Cain didn't prove anything. The costs of goods would simply go up since the health care plan the Clinton suggested would cover all competitors equally. His accounting is good, but his economics is poor.
kontar72 4 months ago
I dont see Herman Cain proving anything other than he knows more about his own company than Clinton
bryantrafford 4 months ago
The problem is that if the demand for eating out is elastic (an increase in price substantially decreases the amount purchased) then the business CAN'T pass the cost onto customers that much without losing a lot of business. All businesses, small and large suffer because they must either eat the cost or cut employees. If you are a incredibly labor intensive business that cuts jobs, you will overwork your employees and potentially decrease productivity. Leftwing, anti-business rhetoric aside
Harikus 5 months ago
At 5:49 is the PERFECT EXAMPLE on why WalMart spends so much on lobbyists and why Microsoft spends that much also!
This is why lobbyists should be banned via amendding the first amendment and ONLY the lobbyists.
mcoop221 5 months ago
Nice find.
arkivx1 5 months ago