So this is the market labor supply curve two. Going to have more labor, so it's going to be like this. Labor supply curve, let's call that sub one, it's going to shift to the right. In this labor market, well, that's going to increase Have a lot of immigration, new folks who can participate This particular firm? All right, now let's do this together. In this labor market? Pause this video, and also think about what is going to be the newĮquilibrium quantity of labor and our new equilibrium wage? And how might that affect Into the country, what is going to happen So when that immigration opens up and more people immigrate Necessary to participate in the labor market that So let's say that all of a sudden, the nation's immigration policy changes where they're willing toīring in a lot more folks who have the skills In a previous video, we took a look at the labor markets, and we thought about it in theĬontext of the entire market and how it might impact a firm.
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