Round eveothing to the nearest.tentiee825 becomes3) Suppose that by opening up to trade the price of crystals in Tatooine falls by 10% and the price of hyperdrives does not change. Use the following information to determine how these affect the payments to high-skill and low-skil labor. 300 Lightsaber Crystals: Sales Revenue 200 Lightsaber Crystals: High-Skil Labor Payments 100 Lightsaber Crystals: Low Ski Labor Payments 200 Hyperdrives: Sales Revenue 40 Hyperdrives: High-Skill Labor Payments 160 Hyperdrives: Low Skil Labor Payments In this case, the wage rate to high-skiled labor would change by and the ge tolowed bar w hargey Question 2 uf2 As a result of these changes DA High-skill labor s made better off, and low skill labor is made better off ORHigh-skill labor is made worse off, and low skill labor is made better off OCHigh-skill labor is made worse off, and low skill labor is made worse off O High skill labor is made better off, and low-skil labor is made worse off

Round eveothing to the nearest.tentiee825 becomes3) Suppose that by opening up to trade the price of crystals in Tatooine falls by 10% and the price of hyperdrives does not change. Use the following information to determine how these affect the payments to high-skill and low-skil labor. 300 Lightsaber Crystals: Sales Revenue 200 Lightsaber Crystals: High-Skil Labor Payments 100 Lightsaber Crystals: Low Ski Labor Payments 200 Hyperdrives: Sales Revenue 40 Hyperdrives: High-Skill Labor Payments 160 Hyperdrives: Low Skil Labor Payments In this case, the wage rate to high-skiled labor would change by and the ge tolowed bar w hargey Question 2 uf2 As a result of these changes DA High-skill labor s made better off, and low skill labor is made better off ORHigh-skill labor is made worse off, and low skill labor is made better off OCHigh-skill labor is made worse off, and low skill labor is made worse off O High skill labor is made better off, and low-skil labor is made worse off

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter21: International Trade And Comparative Advantage

Section: Chapter Questions

Problem 2TY

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College students sometimes work as summer internsfor private firms or the government. Many of thesepositions pay little or nothing.a. What is the opportunity cost of taking such ajob?b. Explain why students are willing to take thesejobs.c. If you were to compare the earnings later in lifeof workers who had worked as interns and thosewho had taken summer jobs that paid more, whatwould you expect to find?
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