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Suppose recent changes to immigration laws have decreased decreases the supply of immigrant labor, increasing increasing wages in manual labor occupations. how might this affect the market for construction

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  1. Today, 06:12
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    Manual labor is one of the major inputs for construction projects, and naturally one of the major cost drivers. If the cost of manual labor increases, the price of construction projects will increase across all quantities. This effectively shifts the supply graph to the left. If supply and demand are behaving normally, this means the market for construction will now feature a lower quantity of construction projects at a higher average price.
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