In-Home and Foreign, there are two factors each of production, land, and labor used to produce only one good. The land supply in each country and the technology of production are the same. The marginal product of labor in each country depends on employment as follows: * attached photo Initially, there are 11 workers employed in Home, but only 3 workers in Foreign. Find the effect of free movement of labor from Home to Foreign on employment, production, real wages, and the income of landowners in each country.
In-Home and Foreign, there are two factors each of production, land, and labor used to produce only one good. The land supply in each country and the technology of production are the same. The marginal product of labor in each country depends on employment as follows: * attached photo Initially, there are 11 workers employed in Home, but only 3 workers in Foreign. Find the effect of free movement of labor from Home to Foreign on employment, production, real wages, and the income of landowners in each country.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In-Home and Foreign, there are two factors each of production, land, and labor used to produce only one good. The land supply in each country and the technology of production are the same. The marginal product of labor in each country depends on employment as follows:
* attached photo
Initially, there are 11 workers employed in Home, but only 3 workers in Foreign. Find the effect of free movement of labor from Home to Foreign on employment, production, real wages, and the income of landowners in each country.
Transcribed Image Text:Number of Workers
Marginal Product
of Last Worker
Employed
1
20
2
19
3
18
4
17
5
16
6
15
7
14
8
13
9.
12
10
11
11
10
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