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Businesses can create jobs for skilled workers and unskilled workers. Workers can choose to invest in training or not to get training. The coordination game
Businesses can create jobs for skilled workers and unskilled workers. Workers can choose to invest in training or not to get training. The coordination game of both businesses and workers has multiple equilibria. Which statement is NOT true about equilibria in the labor market? Businesses and workers are better off in the good equilibrium. The good equilibrium describes the current position of many rich industrialized economies. The good equilibrium refers to high-income, low-skilled jobs. The bad equilibrium makes everyone worse off
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