Mexico has daily (rather than hourly) minimum wage laws. InOct. 2018, the daily minimum wage in Mexico was about 350pesos per day, and the exchange rate between Mexican pesos and U.S. dollars was about 20 pesos per dollar.

1. InOct. 2018, what was the Mexican minimum daily wage in terms of dollars?
2. Given that Mexican employees typically work 8-hour days, about how much per hour is the Mexican minimum wage in terms of dollars?
3. In 2018, the Federal minimum wage in the United States was $7.25 per hour. How many times larger was the hourly U.S. federal minimum wage than the hourly Mexican minimum wage?
4. Assuming that costs of migration and outsourcing are relatively low,what will happen as a result of this wage discrepancy?