Just keep swimming, just keep swimming

Mom, you'll be so proud. I got up at 7.45 today, to go swimming.

If the minimum wage is $8, then the company will pay 8$ for labour. Per supply-demand curve/law/thingy, if the minimum wage climbs to $10, then the company will hire less workers. But what if the company already could afford to pay $10, but paid $8 because that was the minimum? Wouldn't they retain their work force, even at a higher cost, if they could afford it? Prof. confuses me sometimes.