Jason runs an apple farm and sells them at market, along with many other sellers.Recent changes to working holiday visa laws mean that there has been an increase in the supply of people willing to pick apples.This is likely to lead to a:

Question

Quizplus · Accepted Answer

An increase in the supply of labor usually leads to a decrease in the marginal product of labor. This means that each additional worker added to the apple picking operation will contribute less and less to the total output of apples picked. As a result, the costs of producing apples may rise, leading to reduced profits or increased prices for consumers. However, it is important to note that the impact on Jason's revenue and long-run profit may vary depending on the elasticity of demand for apples and the efficiency of his apple picking operation.

Jason Runs an Apple Farm and Sells Them at Market