Everyone? Only one competitor is needed to provide competition.
Fast food wages translate directly into how the fast food is priced. Increasing min wages for fast food workers is followed immediately by price increases.
When you said "everybody else goes into business to compete with him"
I was just trying to say this isn't true in a lot of cases due to a wide range of barriers to entry. This can be legal (patents or regulations), natural monopolies like telecom...etc.
You said competition leads to higher wages and I stated that hasn't been true in a lot of places and used fast food as an example. Your response, while true doesn't seem to be relevant to what I was saying.
I know you're a lot smarter than me, so we're probably just talking past each other :)
Fast food wages translate directly into how the fast food is priced. Increasing min wages for fast food workers is followed immediately by price increases.