Chipotle and California’s $20 minimum wage.

“Around 15% of Chipotle’s 3,300 stores are located in California. The minimum wage increase will add between 2.5% and 3% to the company’s overall labor costs.” The article says they’ve already raised prices four times in the past to years, and they also plan to pass this cost on to customers via higher prices. This will be a natural experiment in demand elasticity. ~ learn more