ECS4865JL1 02102. .. cha p747a nsiieichap... X [E'Jirt'nE'Q 6I7k91m'v?l|etf>ll0 @4. ago 5. 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 exactly the same. The marginal product of labor in each count de ends on em 10 ment as follows: Initially, there are 11 workers employed in Home, but only 5 workers in Foreign. Find the effect of free movement of labor from Home to Foreign in employment, production, real wages, and the income of landowners in each country. (From the Textbook, Chapter 4, Problem 5) The real wage in Home is 10, while real wage in Foreign is 18. 1)" there is free movement of labor, then workers will migrate from Home to Foreign until the real wage is equal in each country. If 3 workers move from Home to Foreign, then there will be 8 workers employed in each country, earning a real wage of 14 in each ( Mostly sunny SearCh 'Compress size' E3, Export PDF A Adobe Export PDF 1'1: Convert PDF Files to Word or Excel Online Select PDF File chapr4ran...chapr4.pdf x Convert to Microsoft Word (docx) V Document language: English (U.S.) Change View Document Cloud Files Cur-wen, edit and arsign PDF (mus & agreements chap-4-ans-ie-chap-4.pdf - Adobe Acrobat Reader DC (64-bit) X File Edit View Window Help Home Tools ECS4865_TL102_202... chap-4-ans-ie-chap... x ? 6 / 7 + 138% - will be 8 workers employed in each country, earning a real wage of 14 in each Search 'Compress size' country. We can find total production by adding up the marginal product of each worker. After trade, total production is 30 + 29 + 28 + 27 + 26 + 25 + 24 + 23 = Export PDF 212 in each country for total world production of 424. Before trade, production in Home was 30 + 29 + 28 = 87 and production in Foreign was 30 + 29 + ... + 10 = Adobe Export PDF 265. Total world production before trade was 87 + 265 = 352. Thus, trade increased Convert PDF Files to Word or Excel Online output by 72. Workers in Home benefit from migration, while workers in Foreign are hurt. Landowners in Home are hurt by migration (their costs rise), while Landowners Select PDF File in Foreign benefit. Production increases in Foreign but decreases in Home. chap-4-an...chap-4.pdf X Convert to 6. Using the numerical example in problem 5, assume now that Foreign limits Microsoft Word (*.docx) immigration so that only 2 workers can move there from Home. Calculate how V Document Language: the movement of these 2 workers affects the income of five different groups: English (U.S.) Change (From the Textbook, Chapter 4, Problem 6) a. Workers who were originally in Foreign Workers in Foreign are hurt as their wage falls from 14 to 1 1. Convert View Document Cloud Files This document is available free of charge on StuDocu.com Convert, edit and e-sign PDF forms & agreements Downloaded by Eric Myburgh (ericmyburgh@gmail.com) Free 7-Day Trial Type here to search O W 15:30 19C Mostly sunny ~ 9 0 (" () ENG 2022/05/11chap-4-ans-ie-chap-4.pdf - Adobe Acrobat Reader DC (64-bit) X File Edit View Window Help Home Tools ECS4865_TL102_202... chap-4-ans-ie-chap... x ? 6 / 7 138% 6. Using the numerical example in problem 5, assume now that Foreign limits Search 'Compress size' immigration so that only 2 workers can move there from Home. Calculate how Export PDF the movement of these 2 workers affects the income of five different groups: (From the Textbook, Chapter 4, Problem 6) Adobe Export PDF a. Workers who were originally in Foreign Convert PDF Files to Word Workers in Foreign are hurt as their wage falls from 14 to 1 1. or Excel Online Select PDF File chap-4-an...chap-4.pdf X Convert to This document is available free of charge on StuDocu.com Microsoft Word (*.docx) Downloaded by Eric Myburgh (ericmyburgh@gmail.com) Document Language: English (U.S.) Change Convert View Document Cloud Files b. Foreign landowners Landowners in Foreign benefit as their costs fall by 3 for each worker employed. Convert, edit and e-sign PDF forms & agreements c. Workers who stay in Home Free 7-Day Trial Workers who stay at Home benefit as their wages rise from 10 to 13. Type here to search O Hi W 15:30 19C Mostly sunny ~ % ( () ENG 2022/05/11chap-4-ans-ie-chap-4.pdf - Adobe Acrobat Reader DC (64-bit) X File Edit View Window Help Home Tools ECS4865_TL102_202... chap-4-ans-ie-chap... x ? 7 17 138% Y Downloaded by Eric Myburgh (ericmyburgh@gmail.com) Search 'Compress size' Export PDF Adobe Export PDF Convert PDF Files to Word or Excel Online b. Foreign landowners Select PDF File Landowners in Foreign benefit as their costs fall by 3 for each worker employed. chap-4-an..chap-4.pdf X Convert to c. Workers who stay in Home Workers who stay at Home benefit as their wages rise from 10 to 13. Microsoft Word (*.docx) V Document Language: d. Home landowners English (U.S.) Change Landowners in Home are hurt as their costs rise by 3 for each worker employed. Convert e. The workers who do move The workers who do move benefit by seeing their wages rise from 10 to 18. View Document Cloud Files Convert, edit and e-sign PDF forms & agreements Free 7-Day Trial Type here to search 15:30 19C Mostly sunny ~ 9 % (" () ENG 2022/05/11