Final answer:
In 2020, the minimum wage for companies with 26 or more employees in California was $13 per hour.
Step-by-step explanation:
The minimum wage in California in 2020 for companies with 26 or more employees was $13 per hour. It is mandated as a price floor by the government to prevent employers from paying workers below this threshold. The minimum wage serves as a critical component in the labor market and is seen as essential for ensuring a reasonable standard of living. Despite the federal minimum wage being $7.25 per hour since 2009, states have the authority to mandate higher wages. California has been a leader in this regard, and in 2020, set the minimum wage at $13 per hour for larger companies, which was a part of a progressive increase in the state's minimum wage rates.