New York Adopts Nation's First Pay Floor for Rideshare Drivers

> Uber, however, warned that the bill will “lead to higher than necessary fare increases”

Whenever their expenses increase, companies like to imply and threaten that they will pass along the increase to consumers. But that is deceptive: Some of the expenses are paid for out of the company's profits and some via increased prices; the proportion of each depends on the company's choices, on the economics of price elasticity, and on other things.

Another way of looking at it: If the company's expenses go down, do consumers get a price cut or does the company announce larger profits?