1.1. Use the idea of the division ofknowledge to answer the following questions: a. Which country has...

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1.1. Use the idea of the "division ofknowledge" to answer the following questions:

a. Which country has more knowledge:

Utopia, where in the words ofKarl Marx, each person knows just enough about hunt ing, fishing, and cattle raising to "hunt in the morning, fish in the afternoon, [and] rear cattle in the evening," or Drudgia, where one-third of the population learns only about hunting, one-third only about fishing, and one-third only about cattle raising?

b. Which planet has more knowledge: Xeroxia, each of whose 1 million inhabitants knows the same list of 1 million facts, or Differen tia, whose 1 million inhabitants each know a different set of 1 million facts? How many facts are known in Xeroxia? How many facts are known in Differentia?

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Modern Principles Microeconomics

ISBN: 9781429239998

2nd Edition

Authors: Tyler Cowen, Alex Tabarrok

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