New law aimed at reducing healthcare costs

Reference no: EM13692567

Suppose that the president proposes a new law aimed at reducing healthcare costs. All Americans are required to eat one apple daily.

a) How would this apple a day affect the demand and equilibrium price of apples?

b) How would the law affect the marginal product and value of marginal product of apple pickers?

c) How would the law affect the demand and equilibrium wage for apple pickers?

Reference no: EM13692567

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