Can you please help me give comment about this post.

• Since the cost of labor will be higher the companies may increase their prices to afford the labor like you said. This will affect the elasticity of many things and upset the equilibrium of supply and demand negatively. Small businesses will not be able to keep up and will close, leaving more people without jobs.
• The impact of increasing the minimum will be the greatest on teens and young adults. The long-term effects will not be seen for a while. Short-term thinking makes a wage increase sounds like a good idea.
• Raising the minimum wage to 15 dollars will increase the price of goods and put small businesses out of work, and there will be less jobs. But on the other hand, the increase will give those who do have jobs a better quality of life, employers will have more skilled workers. On either side the elasticity of the price of a demand and the income elasticity of demand will change.