I need an explanation for this Economics question to help me study.
(see graph atatched) i dont understand how to get the 11% & 3.2% graphed on this
would you show me and write instruction on how you did it
According to Borjas (2003), immigration into the United States increased the labor supply of working men by 11.0% from 1980 to 2000 and reduced the wage of the average native U.S. worker by 3.2%. Draw a supply-and-demand diagram and label the axes to illustrate what happened.
Consider the labor market illustrated in the figure to the right.
1.) Using the line drawing tool,
graph a new labor supply curve. Label this curve
‘Upper S squaredS2.’
2.) Using the point drawing tool,
indicate the new market equilibrium wage and employment level. Label this point
Carefully follow the instructions above, and only draw the required objects.