Question
Consider a 2-period model where individuals can either go to school or work in Period 1, and everyone works in period 2. Pay for those
Consider a 2-period model where individuals can either go to school or work in Period 1, and everyone works in period 2. Pay for those without education is P0 per period, and pay is P1 for those with education.
What is the total gross income (no costs, not discounted) earned over both periods if a person DOES NOT go to school in the first period?
What is the total gross income (no costs, not discounted) earned over both periods if a person DOES go to school in the first period?
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Microeconomics Theory And Applications With Calculus
Authors: Jeffrey M. Perloff
4th Edition
134167384, 134167381, 978-0134167381
