Question

A company has enough money to pay $38 an hour in wages. It has 5 employees, all of whom make $7.60 an hour working full time. What will happen if the government raises minimum wage to $9 an hour? to $10 an hour? How will such an increase affect the company and its workers?  (5 points for completion, 2 points for correct answer, and 3 points for a good explanation)

Answer 1

Answer:It will not make a good impact on the company.

Explanation:the company only has enough to pay each of there employees if the government does not raise the minimum wage.

7.60 and 38 divided by 5 equals 7.60$ so therefore if if the government raises the minimum wage to 9-10$ the company will be in debt.