From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
Youth younger than 12 can work in agriculture on a farm only if the farm is not required to pay the Federal minimum wage. A youth that is 16 years old or older, can work on any farm, including during hours when school is in session, on any day, for any number of hours, and in any job.