3. Suppose that the world is formed with two countries: Home and Foreign. Workers at Home are paid a wage (W) of $15 and workers at Foreign are paid a wage (W*) of $5. After noticing that Home pays higher wages, 10 workers from Foreign migrate to Home. Initially, the labor supply at home (L) is 30 workers and the labor supply at Foreign (L*) is 70 workers. After the wave of immigration, the equilibrium wage (W') will settle at $10. With this information and the graph below, answer the following questions:
a) Complete the graph with the relevant info to determine Foreign and Home country gains.
b) Determine Home and Foreign labor supply after immigration.
c) Calculate Home, Foreign and world gains from immigration.