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a. Consider the simple Harris-Todaro Model of Rural-Urban migration. Wage is fixed at 100 rupees in a major city in India. There are 50,000 jobs in the formal sector in this city. Assume that workers are rational decision makers. What is the total urban force at each of the rural wage rates in the table below? Calculate total labor force and informal employment in the urban sector. (Please fill in the chart)
b. Plot the two qq lines using information from the above table.
c. In a separate graph below, show total urban labor force and Informal employment in the Urban sector using the Harris- Todaro graph for the above example if the qq line crosses the rural labor demand curve at 30 rupees when the formal sector employment is 50,000, Show the formal and informal sector in the graph.
Question 1: Consider the simple Harris-Todaro Model of Rural-Urban migration. Wage is fixed at 100 rupeesin a major city in India. There are 50,000 jobs in the formal sector in this city. Assume thatworkers are rational decision makers. What is the total urban force at each of the rural wage ratesin the table below? Calculate total labor force and informal employment in the urban sector. (20 points) Wg Probabilityin of gettingRupees an urbanjob Total Urbanlabor force whenLn] = 5 0,000 Informalemployment Total Urbanlabor force whenLm = 60,000 Informalemployment 10 20 30 40 50 60 70 80 90 100
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