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9. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: Lm = 300-9Wm
9. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: Lm = 300-9Wm Ls = 150-6Ws where L is labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 150 workers who are willing and able to work in either sector. a. If workers are free to move between sectors, what relationship will there be between Wm and W
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