Question: You are watching a debate about immigration on public television with a friend. The participants represent two camps-organized labor and corporate industry. Organized labor argues against open immigration while U.S. industry argues in favor of more open immigration Your friend says, "I can't believe that these two groups can't get together on this issue. Both firms and workers join forces to produce our industrial output. I would think that their interests would be similar. Maybe a better arbitrator could help these groups find a position on immigration that would satisfy both groups."
If there were open immigration, what would happen to the value of the marginal product of capital and land and their rental rates?