Supply Curve (leftward) Supply Curve (rightward) Demand Curve (teftward) Demand Curve (rightward) / Quantity of Wheat Quantity of Wheat Quantity of Wheat (a Quantity of What (d) Figure 29

Economics Nov 07, 2020

Supply Curve (leftward) Supply Curve (rightward) Demand Curve (teftward) Demand Curve (rightward) / Quantity of Wheat Quantity of Wheat Quantity of Wheat (a Quantity of What (d) Figure 29.4 Select the letter of the diagram in Figure 28.1 that best represents the effect of each event on the United States wheat market, ceteris paribus: Relaxed immigration laws lead to lower labor costs. (See Figure 29.4.) o A) a. B) b. C) c. D) d.

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ANSWER

B) b) The supply curve will shift towards the right as shown in diagram (b) . Labour costs are a supply side factor .As the labour costs decrease the profit margins will increase. The supply will increase at the existing prices because the producers will earn more.

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