Question

1.(50 points) Suppose the demand and supply of non-college workers are (D): w= 100-0.1E (S): w=50 +0.1E. Where w is wage and E is employment. Suppose the demand and supply of college workers are (D): w=200-0.2E (S): w=50 +0.1E a) What are the equilibrium wages and employments for non-college and college workers? Draw the demand and supply curves. Phili b) Suppose more workers carned their college degrees this year. Particularly, supplies of non- college and college workers became w= 60 +0.1E and w=20 +0.1E (no change in labor demand). what will happen to the two markets? Indicate the new equilibrium in the graph. c) Based on casc b), suppose now the labor demand for college workers increased to ws 290-0.2E what will happen to the two markets (suppose the number of non-college workers does not change, but the number of college workers can change due to immigration)? Indicate the new equilibrium in the graph​

Answer 1

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Answer 2

Answer:

2.3

Explanation:

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