Use the following information to work Problems 8 and 9.
Unwinding in the capital of the Woodstock nation In August 1969, in Bethel, N.Y., some 400,000 people swarmed to Max Yasgur’s 600-acre farm for the Woodstock Music & Art Fair to hear rock acts like the Who and Jimi Hendrix. In 2007, with plenty of land available and only 100 miles from New York City, people built weekend homes. As a result of all the new development, Bethel has placed a temporary moratorium on subdivisions
8. Draw a graph to show the change in the land market from 1969 to 2007. Explain how the moratorium will influence the land market in 2008.
9. Draw a graph to show the Bethel labor market in 2007. Explain how the moratorium will influence the Bethel labor market in 2008.