Which of the following actions by businesses can help reduce income inequality?

Analyze each option: reducing employee benefits typically lowers workers' total compensation, which can increase inequality; automating jobs without retraining workers may lead to job losses or lower wages for displaced workers, increasing inequality; focusing solely on maximizing shareholder profits often prioritizes returns to capital over wages, potentially increasing inequality.

Identify that implementing higher minimum wages directly raises the lowest wages in the economy, which helps increase the income of lower-paid workers and thus reduces income inequality.