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(Solved): If an early frost kills many orange trees before harvest, then which of the following will happen i ...
If an early frost kills many orange trees before harvest, then which of the following will happen in the market for agricultural labor? The supply curve will shift to the left The demand curve will shift to the left The demand curve will shift to the right The supply curve will shift to the right
If supply and demand are both more inelastic, then Deadweight loss will not change Deadweight loss will be smalier Deadweight loss will be larger Deadweight loss will be the same in total, but producers will bear more of the burden
Expert Answer
1. The correct answer is d) The supply curve will shift to the right.Orange yield will fall if an early frost destroys many orange trees before harvest. The demand for agricultural labor in the orange industry will decline as a result of this decline in production. As a result, employees who previously worked in orange farming may look for job in other agricultural businesses or non-agricultural ones, increasing the market's supply of agricultural labor. Consequently, there will be a rightward change in the supply curve for agricultural labor.