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Millions of people from Mexico have migrated to the United States. This has reduced the supply of labor in Mexico and increased the supply of labor in the United States. Assume that the demand for labor in Mexico and the United States is unchanged. Then wages in the United States and wages in Mexico .

Answer

Wages in the United States will increase, and wages in Mexico will decrease when millions of people migrate from Mexico to the United States. This is due to the fact that the decreased supply of labor in Mexico causes an increase in wages in Mexico, and the increased supply of labor in the United States causes a decrease in wages in the United States.

Supply and Demand

The law of supply and demand states that when the supply of something decreases and the demand for it remains the same, the price of that product will rise. This is because when a product becomes scarce, people are willing to pay more for it. Similarly, when the supply of something increases and the demand for it remains the same, the price will decrease.

Labor Supply and Demand

Labor is just like any other product that is bought and sold. When the supply of labor decreases and the demand for labor remains the same, wages will increase. This is because employers are now competing for fewer workers and are willing to pay more for them. On the other hand, when the supply of labor increases and the demand for labor remains the same, wages will decrease. This is because employers now have more workers to choose from, and so are not willing to pay as much for each worker.

Migration and Wages

When millions of people from Mexico migrate to the United States, the supply of labor in Mexico decreases and the supply of labor in the United States increases. This means that wages in the United States will decrease and wages in Mexico will increase. This is because the decreased supply of labor in Mexico causes an increase in wages in Mexico, and the increased supply of labor in the United States causes a decrease in wages in the United States.

Related Questions

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