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.
Twelve percent of farmworkers are 55 or over, 17% are between 45 and 54 years old, 25% are. between 35 and 44 years old, 29% are between 25 and 34, and 18% between 14 and 24 years old. Ten years ago, in 2001 to 2002, the labor force was somewhat younger: just 19% of farmworkers. were 45 or older and 61% were under 34.