(03-21-2013 11:03 AM)Fo Shizzle Wrote:  

(03-21-2013 10:58 AM)VA49er Wrote:  

(03-21-2013 10:55 AM)RobertN Wrote:  

(03-21-2013 10:51 AM)Fo Shizzle Wrote:  

(03-21-2013 10:47 AM)RobertN Wrote:  Society says? More like YOU say. Economics? How so?

Remember, I am not talking about the $22/hour I am talking 9-10 and that happens over 3-4 years, not one large increase.

Coming soon to McDonalds....the 3 dollar menu.

Keep dreaming.

It's either that or no more "dollar menu" all together. You see, that's how it works. The cost of a product has to cover all expenses involved in producing said product. If it doesn't, economics dictates the product not be produced.

Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

(03-21-2013 11:09 AM)RobertN Wrote:  

(03-21-2013 11:03 AM)Fo Shizzle Wrote:  

(03-21-2013 10:58 AM)VA49er Wrote:  

(03-21-2013 10:55 AM)RobertN Wrote:  

(03-21-2013 10:51 AM)Fo Shizzle Wrote:  Coming soon to McDonalds....the 3 dollar menu.

Keep dreaming.

It's either that or no more "dollar menu" all together. You see, that's how it works. The cost of a product has to cover all expenses involved in producing said product. If it doesn't, economics dictates the product not be produced.

Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Cause-and-effect, Robs.

This isn't really that complicated.

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  

(03-21-2013 11:03 AM)Fo Shizzle Wrote:  

(03-21-2013 10:58 AM)VA49er Wrote:  

(03-21-2013 10:55 AM)RobertN Wrote:  Keep dreaming.

It's either that or no more "dollar menu" all together. You see, that's how it works. The cost of a product has to cover all expenses involved in producing said product. If it doesn't, economics dictates the product not be produced.

Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Nope.

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  

(03-21-2013 11:03 AM)Fo Shizzle Wrote:  

(03-21-2013 10:58 AM)VA49er Wrote:  

(03-21-2013 10:55 AM)RobertN Wrote:  Keep dreaming.

It's either that or no more "dollar menu" all together. You see, that's how it works. The cost of a product has to cover all expenses involved in producing said product. If it doesn't, economics dictates the product not be produced.

Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

If it means paying burger flippers 10 dollars an hour?...yes.

(03-21-2013 11:28 AM)RobertN Wrote:  

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  

(03-21-2013 11:03 AM)Fo Shizzle Wrote:  

(03-21-2013 10:58 AM)VA49er Wrote:  It's either that or no more "dollar menu" all together. You see, that's how it works. The cost of a product has to cover all expenses involved in producing said product. If it doesn't, economics dictates the product not be produced.

Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  

(03-21-2013 11:03 AM)Fo Shizzle Wrote:  Toby skipped ECON 101 for basket weaving.

So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

So, you're snagged on the $3 dollar figure. Let's break it down to a simpler question. What effect would an increase in the minimum wage have on the price of goods, Robs?

I'll even make it multiple choice.

A. Prices will go up.
B. Prices will go down.
C. Prices will stay the same.
D. Cool Ranch Doritos.

(03-21-2013 11:59 AM)Smaug Wrote:  

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  

(03-21-2013 11:21 AM)VA49er Wrote:  So, you think places like McDonalds would sell food/products at a loss?

Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

So, you're snagged on the $3 dollar figure. Let's break it down to a simpler question. What effect would an increase in the minimum wage have on the price of goods, Robs?

I'll even make it multiple choice.

A. Prices will go up.
B. Prices will go down.
C. Prices will stay the same.
D. Cool Ranch Doritos.

Where did I say that the price wouldn't go up?

(03-21-2013 12:21 PM)RobertN Wrote:  

(03-21-2013 11:59 AM)Smaug Wrote:  

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

So, you're snagged on the $3 dollar figure. Let's break it down to a simpler question. What effect would an increase in the minimum wage have on the price of goods, Robs?

I'll even make it multiple choice.

A. Prices will go up.
B. Prices will go down.
C. Prices will stay the same.
D. Cool Ranch Doritos.

Where did I say that the price wouldn't go up?

Glad you admit this. There is hope for you after all.

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  

(03-21-2013 11:21 AM)VA49er Wrote:  

(03-21-2013 11:09 AM)RobertN Wrote:  So did Ayn Rand thus you as well.

So, you think places like McDonalds would sell food/products at a loss?

Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

Now you are just using semantics. Who knows if $3 would be the new price? The entire point is the price would be higher, not necessarily $3. If a company sells a product for a loss that company will eventually fail. Now, some companies use "loss leaders" ie.. sell a product at a loss, but those companies do that to get folks to buy higher margin products that, in the end, make a profit for the company. An example would be some gas stations that sell gas below cost to get folks into the convenience store to buy high margin snacks/drinks, etc. This is all really basic Econ 101.

(03-21-2013 12:21 PM)RobertN Wrote:  

(03-21-2013 11:59 AM)Smaug Wrote:  

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  

(03-21-2013 11:28 AM)RobertN Wrote:  Nope.

Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

So, you're snagged on the $3 dollar figure. Let's break it down to a simpler question. What effect would an increase in the minimum wage have on the price of goods, Robs?

I'll even make it multiple choice.

A. Prices will go up.
B. Prices will go down.
C. Prices will stay the same.
D. Cool Ranch Doritos.

Where did I say that the price wouldn't go up?

Is this an acknowledgement that they will go up?

Assuming it is, now, who will this phenomenon hurt the most?

A. The rich.
B. The poor
C. Neither
D. Mayor McCheese

McDonalds around here has outsourced their work to foreigners.
Not sure what language they speak, just know it's not English.

(03-21-2013 12:58 PM)Smaug Wrote:  

(03-21-2013 12:21 PM)RobertN Wrote:  

(03-21-2013 11:59 AM)Smaug Wrote:  

(03-21-2013 11:43 AM)RobertN Wrote:  

(03-21-2013 11:32 AM)Smaug Wrote:  Okay, now take the next step in the cognitive path. I know, it can be scary, but I believe in you. Now, if you agree that they won't sell a product at a loss, what are some of the things that must happen to continue to profit, invest, and pay their employees?

Take your time, Robs. This is important.

Please show me how paying a worker at McDonalds $9 or $10/hour will raise the price(even using current profit margins-which isn't high) to $3 for the same item today. You can't because it won't raise them that high.

So, you're snagged on the $3 dollar figure. Let's break it down to a simpler question. What effect would an increase in the minimum wage have on the price of goods, Robs?

I'll even make it multiple choice.

A. Prices will go up.
B. Prices will go down.
C. Prices will stay the same.
D. Cool Ranch Doritos.

Where did I say that the price wouldn't go up?

Is this an acknowledgement that they will go up?

Assuming it is, now, who will this phenomenon hurt the most?

A. The rich.
B. The poor
C. Neither
D. Mayor McCheese

D.

Answer the question, Robs.

Now that you've conceded a raise in the minimum wage would drive up prices, who would that hurt the most?

Hint: It isn't the rich or Mayor McCheese.

Robert is probably hold up with a bunch of books studying hard for this exam.