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Scenario 2: Demand for both skilled and unskilled labour shifts, while the supply functions remain the same, The new demand curves are LP = 140

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Scenario 2: Demand for both skilled and unskilled labour shifts, while the supply functions remain the same, The new demand curves are LP = 140 - 10wu and LP = 192 - 8W, . At the new equilibrium, what are the wages and quantities of skilled and unskilled workers? . Unskilled wage, Wzu : . Quantity of unskilled labour, Nu : o Skilled wage, W25 : . Quantity of skilled labour, N2 : . At the new equilibrium, what are the inequality measures for this economy? o Mean: o 80:20 ratio: o 80:50 ratio; o 50:20 ratio

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