2.4 During the early phases of industrialization, the number of people engaged in agriculture usually drops sharply,

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2.4 During the early phases of industrialization, the number of people engaged in agriculture usually drops sharply, even as agricultural output is growing.

Given what you know about production technology and production functions, explain this seeming inconsistency.

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Principles Of Microeconomics

ISBN: 9789813107342

12th Global Edition

Authors: Karl E. Case, Sharon E. Oster, Ray C. Fair

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Question Posted: Nov 11, 2024 10:07 AM

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2.4 During the early phases of industrialization, the number of people engaged in agriculture usually drops sharply,

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Principles Of Microeconomics

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