Question 3 There are a total of 1,050 units of labor in the economy, and workers can either seek employment in one of two sectors: Sector 1 or Sector 2. The graph below depicts the marginal revenue product curves for both sectors in the economy before the introduction of international trade. Wage, $36 $32 $28 $28 $24 $24 $20 $16 -...MRP. .....= $16 - MRP ---. 150 300 450 600 750 900 1,050 Part (i): Suppose that the marginal product of the 300th unit of labor in Sector 1 is 2 units of output. That is, hiring the 300" unit of labor in Sector 1 increases the quantity of output by 2 units in that sector. What is the price of output sold in sector 1? A. $10.00 B. $12.50 . $15.00 D. $17.50 E. $20.00 Part (ii): Suppose that per-unit price of output sold in Sector 2 is $4. What is the marginal product of the 600th unit of labor that is employed in Sector 2? A. 4.25 units of output B. 5.75 units of output C. 6.25units of output D. 7.50 units of output E. None of the above. Part (ili): Identify the allocation of the 1,050 workers such that there is no incentive for additional migration between the two sectors. A. There will be 525 workers in each sector. B. There will be 600 workers in Sector 1 and 450 workers in Sector 2. C. There will be 750 workers in Sector 1 and 300 workers in Sector 2. D. There will be 300 workers in Sector 1 and 750 workers in Sector 2. E. There will be 450 workers in Sector 1 and 600 workers in Sector 2