Which of the following describes an argument against raising the federal minimum wage?(1 point) Responses it would give laborers greater purchasing power to afford living expenses it would give laborers greater purchasing power to afford living expenses it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses it will decrease corporate taxes by reducing profits it will decrease corporate taxes by reducing profits it will discourage education since special skills would not be required to earn good pay

Answer 1

it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses