chose all that are correct ignore the ones i selected! Thanks :) Consider the gr

Question

chose all that are correct

ignore the ones i selected!

Thanks :)

Consider the graphs below as a starting point for your analysis. Choose all that are correct When starting supply and demand analysis, it is normal to start markets in long run equilibrium. Long run equilibrium is when the price of the good is the same in all markets. In long run equilibrium, there is no opportunity to further reallocate the supply of a good from low to high valued use. 0 d. On the graphs, the Indian and Gulf State labor markets are in long run equilibrium. Suppose the graphs show labor markets 24 years ago. Choose all that are correct On the graphs, the price of labor is lower in the Gulf States compared to India. On the graphs, there is an incentive for labor to move from the Gulf States to India because the price of labor is higher in India. On the graphs, Sheik Abdullah had an incentive 24 years ago to migrate to take advantage of the wage differential between India and the Gulf States. The graphs are a good starting point for the economic analysis because they represent the world accurately 24 years ago. The graphs are a good starting point for the economic analysis because they start the analysis with markets in long run equilibrium

Explanation / Answer

1 b, c

2 c,d

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