**Understanding Labor Market Dynamics: Southern vs. Northern States**The following graph illustrates the labor market in a state located in the South. The legislature in this state has enacted stringent "right-to-work" laws that significantly hinder the ability of unions to organize workers, resulting in wages being consistently set at the market-clearing level. Apart from this legislative difference, the two states in question are very similar.### Initial Labor Market ConditionsThe initial position of the graph reflects the labor market conditions in the southern state before any interventions by labor unions. In this scenario, the "Demand" and "Supply" curves intersect at the market-clearing wage level.### Impact of Union Wage NegotiationsThis initial equilibrium is disrupted when the labor union in a northern state succeeds in negotiating higher wages for workers. This intervention in the northern labor market causes some northern state workers, who lose their jobs due to the increased wages, to migrate to the southern state seeking employment.### Adjusting the GraphThe graph should be adjusted to reflect these changes in employment and wages in the southern state. [Graph Explanation: Two intersecting lines labeled 'Demand' and 'Supply' indicate the initial equilibrium with the corresponding wage and labor quantity. Sliders labeled 'Demand' and 'Supply' suggest the ability to simulate changes, such as shifts in these curves to reflect the influx of workers.]**Question: Impact on Different Worker Groups****Which of the following groups are better off as a result of the union action in the northern state?** *Check all that apply.*- ○ Workers who find new jobs in the southern state- ○ Workers in the northern state employed at the union wage- ○ The original workers in the southern state- ○ All workers in the northern stateThis analysis offers insights into how labor market interventions, such as union negotiations, impact various stakeholders across different states. **6. Contrasting labor union laws in two states**Consider two states that adopt different laws concerning labor unions.The following graph shows the labor market in a state in the North. Initially, the market-clearing wage there is $8.00 per hour.Suppose that the legislature in this northern state passes laws that make it easy for workers to join a union. Through collective bargaining, the union negotiates a wage of $10.00 per hour.Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.**Graph Explanation:**- The graph depicts the labor market with Wage (Dollars per hour) on the vertical axis and Labor (Thousands of workers) on the horizontal axis.- The supply curve is represented by the line sloping upward from left to right.- The demand curve is represented by the line sloping downward from left to right.- The intersection of the supply and demand curves indicates the market-clearing wage and employment level.- A horizontal green line illustrates a proposed union wage of $10.00 per hour.- At the initial market-clearing wage of $8.00, the equilibrium point is where the supply and demand curves intersect.**Graph Input Tool:**- **Market for Labor:** - **Wage (Dollars per hour):** 2.00 - **Labor Demanded (Thousands of workers):** 1,400 - **Labor Supplied (Thousands of workers):** 200 **Instructions:**- Enter $10.00 into the box labeled Wage on the previous graph.**Hint:** Be sure to pay attention to the units used on the graph.**Question:**- At the union wage, _______ union workers will be employed.

The curve that depicts various quantities of goods and services being demanded at different price…

Answered: inter $10.00 into the box labeled Wage…

inter $10.00 into the box labeled Wage on the previous graph. lint: Be sure to pay attention to the units used on the graph. t the union wage, union workers will be employed.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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