How changes in the goods market affect the demand for labor In this question, you'll explore the
Question:
How changes in the goods market affect the demand for labor
In this question, you'll explore the effect of a bad crop in Vermont on the price of blueberries in the United States, as well as on the daily wages of blueberry pickers in Florida. Assume that blueberry buyers don't care whether their blueberries come from Vermont or Florida.
On the following graph, show the effect the bad crop in Vermont has on the market for blueberries in the United States by shifting either the demand curve, the supply curve, or both.
Based on the graph for the market for blueberries in the United States, the bad crop has caused the price of blueberries in the United States to ______________. (FALL/RISE)
The following graph shows the daily market for blueberry pickers in Florida.
Show the effect of the change in the price of blueberries in the United States on the market for blueberry pickers in Florida by shifting either the demand curve, the supply curve, or both.
As a result of the change in the price of blueberries, the wage level for blueberry pickers in Florida ____________. (INCREASES/DECREASES)
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk