What has happened to the marginal product of farm labor

Reference no: EM131103941

Suppose that an enormous amount of forestland is cleared for agricultural use in Brazil.

a. Show the impact of this event on the market for agricultural land in Brazil in Exhibit 2. What has happened to the marginal product of land and the rental price of land in Brazil?

b. Show the impact of this event on the market for Brazilian farmworkers in Exhibit 3. What has happened to the marginal product of farm labor and the wage of farm labor?

Reference no: EM131103941

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