If the selling price of a bushel of cranberries rises, we would expect that the demand for labour in a particular industry decrease.
reason:
- If the price of cranberries increases, its demand decreases,
- If the demand decreases it will result in downward shifting of the equilibrium point,
- If the equilibrium point reaches downward, the supplier will contrast the supply of cranberries, because of increasing its demand,
- Therefore, the supply of labour decreases to decrease production.
Hence, the supplier would have to reduce the supply of labour in the cranberry industry.
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