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Assume that the price of raspberries, a substitute for strawberries, decreases
Assume that the price of raspberries, a substitute for strawberries, decreases.
- What happens to the price of strawberries in California? Why? What happens to demand for strawberry pickers in California? Why?
- If many strawberry pickers are immigrants and a new tough immigration law decreases the amount of immigrants in the country, what will happen to the wage paid to strawberry pickers? Explain.
Expert Solution
Answer:
a.
If the price of raspberries decreases then people will start buying more of raspberries and less of strawberries. So, demand of strawberries will decline and because of decline in demand their prices also decline.
b.
If supply of immigrant strawberry pickers decline then their price, I.e. wages will increase.
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