Do Democrats really believe that increasing the minimum wage is going to boost employment in North Philly?

http://www.wsj.com/articles/the-fight-for-15-will-hit-north-philly-hard-1469574439 says that increasing the minimum wage will increase unemployment among and crime committed by entry level workers. The CBO study it cites states that the minimum wage may have contributed to the increase in joblessness and incarceration rates among 18034 year-old-males. The CBO study does a nice job showing how the demand for the lowest-skilled male workers has decreased. Simple economics tells me that the consequence of the reduction is demand is a reduction in the equilibrium wage and, if wages cannot fall because of legal restrictions, and a reduction in employment.

Prices, total revenue, and market power

Drugmakers' Pricing Power Remains Strong  by: Joseph Walker Jul 15, 2016 Click here to view the full article on WSJ.com TOPICS: Pricing SUMMARY: Firms' ability to raise drug prices is firmly intact despite pushback from health insurers and scrutiny by U.S. lawmakers. More than two-thirds of the 20 largest pharmaceutical companies said price increases boosted sales of their biggest products in the first quarter. CLASSROOM APPLICATION: The article informs students about the difference between list prices and prices consumers actually pay. With regard to pharmaceutical pricing, one point is that negotiated prices may not be increasing at the same rate as list prices. QUESTIONS:  1. (Advanced) Critically evaluate the statement, "More than two-thirds of the 20 largest pharmaceutical companies said price increases boosted sales of some or most of their biggest products." 2. (Advanced) What is the meaning of the following statement? "Drugmakers' pricing power in the U.S. isn't absolute." 3. (Introductory) Why have shares of many drugmakers slumped this year? 4. (Introductory) Why is it difficult to accurately track pharmaceutical prices? Reviewed By: James Dearden, Lehigh University

Cost of manufacturing chocolate

Higher Costs Bite Chocolate Makers
by: Julie Wernau
Jul 12, 2016
Click here to view the full article on WSJ.com

TOPICS: Manufacturing

SUMMARY: The cost of chocolate's two crucial ingredients, cocoa butter and sugar, has risen sharply this year, in an unwelcome development for chocolate makers.

CLASSROOM APPLICATION: Students can evaluate the effect of increases in cocoa butter and sugar prices on the marginal cost of producing chocolate, and they can evaluate the effect of an increase in the marginal cost on the retail price of chocolate.

QUESTIONS: 
1. (Introductory) What factor has caused cocoa butter prices to increase?

2. (Advanced) What factor is causing a slowdown in the U.S. and European demand for chocolate?

3. (Advanced) What is the effect of increases in cocoa butter and sugar prices on the marginal cost of producing chocolate? What is the effect of a shift in the marginal cost of producing chocolate on the price of chocolate?

Reviewed By: James Dearden, Lehigh University

What is the cost of free college?

http://www.bostonglobe.com/opinion/2016/07/12/making-college-free-will-only-make-worse/YVonfawas70nG1CPZy8ctJ/story.html