The figure below represents the effects in the labor markets due to migration. Here, the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating. Wages (S per hour) North Wages (S per hour) South Sa St 8.00 (S; + Smig) 6.75 `D d 3.00 90 120 140 80 Workers (millions) 110 130 Workers (millions) As a result of migration, the employers in North lose $131.25 million. lose $100 million. gain $31.25 million. O gain $162.5 million.

The figure below represents the effects in the labor markets due to migration. Here, the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating. Wages (S per hour) North Wages (S per hour) South Sa St 8.00 (S; + Smig) 6.75 `D d 3.00 90 120 140 80 Workers (millions) 110 130 Workers (millions) As a result of migration, the employers in North lose $131.25 million. lose $100 million. gain $31.25 million. O gain $162.5 million.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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