Refer to the scenario above.The increase in price of peaches will cause the equilibrium wage rate in this market to ________,and the employment to ________.

Name: Refer to the scenario above.The increase in price of peaches will cause the equilibrium wage rate in this market to ________,and the employment to ________.
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Question

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An increase in the price of peaches will likely increase the demand for labor to harvest them, leading to an increase in the equilibrium wage rate and employment.

Refer to the Scenario Above