Suppose that Palm Island, the worlds largest grower of coconuts, plans to build its first airport on
Question:
Suppose that Palm Island, the world’s largest grower of coconuts, plans to build its first airport on 100 acres of productive farm land. Palm Islanders expected the world price of coconuts to rise by 200 percent next year and remain high for the next decade. Explain the influence of these events on Palm Island’s labor market and land market.
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To build the airport construction workers are needed so the demand for construction workers increase...View the full answer
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