Business, 05.05.2020 06:25 lanman65

Labor demand for low-skilled workers in the United States is w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. There are 120 million domestic U. S. low-skilled workers who supply labor in-elastically. If the U. S. opened its borders to immigration, 20 million low-skill immigrants would enter the U. S. and supply labor inelastically. What is the market-clearing wage if immigration is not allowed? What is the market-clearing wage with open borders? How much is the immigration surplus when the U. S. opens its borders? How much surplus is transferred from domestic workers to domestic firms?

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Labor demand for low-skilled workers in the United States is w = 24 – 0.1E where E is the number of...

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