barring any exchange or movement between the two regions, and assuming all workers are hired,
Wn=20-.5(18) = 9
Ws=20-.5(6) = 17
Can anyone get me started on this?
A country has 2 regions, the North and South, which are identical in all respects except for the hourly wage and number of workers. The demand for labor in the region is Wn=$20 - .5En and Ws=$20 - .5Es where En and Es are millions of workers. Currently there are 6 million workers in the North and 18 million workers in the South. What is the wage in each region?
3 answers
Thanks.
Is the first one supposed to equal 11?
Is the first one supposed to equal 11?
right, my bad.