Minimum Wage Case Study

200 words or more! 

Write regarding minimum wage answering some of these questions:

Minimum Wage Case Study

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My Netflix bill just went up recently--Did yours?  If Netflix increases its prices, will it increase its total revenue? If Amazon Prime also decides to raise its prices, how will the total revenue from video streaming subscription services change?  The video streaming services of Netflix, Amazon Prime, and others are different, but close substitutes. Or, are they? So, is the demand from any one company alone elastic or inelastic?  If Netflix alone raises its prices, will the quantity of Netflix subscriptions decrease? Did you drop your subscription after the recent price increase?  Do video streaming services have close substitutes like Starbucks?  So, is this demand elastic or inelastic?  If all video streaming services raise their prices, will the total revenue of the video streaming market increase or decrease?  Will you keep your subscriptions? Why or Why not? Is the overall demand for video streaming services elastic/inelastic?

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