Question
1. Consider the Child Labor Multiple Equilibria Model. How is it possible to have 2 equilibria? What the government can possibly do to deal with
1. Consider the Child Labor Multiple Equilibria Model. How is it possible to have 2 equilibria? What the government can possibly do to deal with it? Explain your answers?
2. Consider the Lewis two-sector model. What are the 2 main assumptions related to the traditional sectors? How do these assumptions help explain the constant flow of workers from the traditional to the modern sector?
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
5th edition
73375829, 978-0073375823
