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Suppose thWhat happens to labor supply in the pear-picking market when the wage paid to apple pickers increases? a. The labor supply will stay unchanged
Suppose thWhat happens to labor supply in the pear-picking market when the wage paid to apple pickers increases? a. The labor supply will stay unchanged until the wages paid to pear pickers change. b. The labor supply will decrease. c. The labor supply may fall or rise, depending on the price of pears. d. The labor supply will increase.at a rare virus infects and kills a significant percentage of the population. Assuming that land and labor are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners? a. Wages would decrease, and rents would increase. b. Wages would increase, and rents would decrease. c. Both wages and rents would decrease. d. Both wages and rents would increase
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