Answer
$6\%$
$2.4\%$
Work Step by Step
We have:
Initial workforce: $8,000$
Increase: $400+80=480$
The percentage increase in supply will be:
$\frac{480}{8000}×100=6\%$
We determine the expected wage decline:
$\frac{4}{10}\times 6=2.4\%$
Economics: Principles, Problems, and Policies, 19th Edition
by McConnell, Campbell R.; Brue, Stanley L.; Flynn, Sean M.
Published by
McGraw-Hill Education
ISBN 10:
0073511447
ISBN 13:
978-0-07351-144-3
Chapter 22 - Immigration - Problems - Page 469: 3b
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