Suppose that the president proposes a new law aimed at reducing healthcare costs: All Americans are required to eat one apple daily. Which of the following statements correctly describes the effect of this apple-a-day law? Check all that apply. The marginal product of apple pickers increases. The value of the marginal product of apple pickers remains unchanged. The equilibrium price of apples increases. The wage of apple pickers remains unchanged. The demand for apples increases. The demand for apple pickers decreases.
Suppose that the president proposes a new law aimed at reducing healthcare costs: All Americans are required to eat one apple daily. Which of the following statements correctly describes the effect of this apple-a-day law? Check all that apply. The marginal product of apple pickers increases. The value of the marginal product of apple pickers remains unchanged. The equilibrium price of apples increases. The wage of apple pickers remains unchanged. The demand for apples increases. The demand for apple pickers decreases.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose that the president proposes a new law aimed at reducing healthcare costs: All Americans are required to eat one apple daily.
Which of the following statements correctly describes the effect of this apple-a-day law? Check all that apply.
The marginal product of apple pickers increases.
The value of the marginal product of apple pickers remains unchanged.
The equilibrium price of apples increases.
The wage of apple pickers remains unchanged.
The demand for apples increases.
The demand for apple pickers decreases.
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