Wage rate (dollars per hour)
Q
12.00
the world price of diamonds
Q
Vrica Draw other a new supply curve
3000
kers employed
lowers
The graph shows the labor market for diamond miners in South Africa Now a new discovery of diamonds in the Yukon in Canada
Show the effect of this event in the labor market for diamond labeled LS, or a new demand curve labeled LD,
Draw a point to show the new equilibrium wage rate and qu The wage rate of diamond miners in South Africa,
OA does not change, does not change
O
chose
OC es decreases
OD. a decrea
Okres increases
sod
4004
200
10 12 14 16 18 20
Quantity of labor (housands of wines
***Draw only the objects specified in the question