5) Consider a hypothetical economy in which each worker has to decide whether to acquire education and become a high-skilled worker or remain low-skilled. Let I, and I denote the incomes earned by a high- and low-skilled worker respectively. These incomes are defined as I, = (1+ flandas] = (1 + f)L, where H and L are constants (H=>L) and f is the fraction of the population that decides to become high skilled. The gain from education and acquiring skill is thus U;: 1 ). However, education and acquiring skill carries a positive cost of C (a constant). Assume that all individuals simultaneously choose whether to become skilled or not