Figure 16P-2 shows the supply and demand for labor in the textile industry. In each of the
Question:
a. What is the original equilibrium?
b. Immigration and layoffs from other jobs increase the population of textile workers, shifting the supply curve to the right by 15,000 workers at any given wage.
c. A new technology for making self-printed T-shirts reduces the marginal product of labor for textile workers, shifting the demand curve to the left by 10,000 workers at any given wage.
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a 75000 textile workers paid 50000 b Wage decreases ...View the full answer
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