Question
Consider a region where the self-sufficient wage is constant at $5. Suppose the payoff from innovation in a city with population n (measured in thousands)
Consider a region where the self-sufficient wage is constant at $5. Suppose the payoff from innovation in a city with population n (measured in thousands) is pie symbol(n)=-1/20 n^2+3n-20.
a. Suppose a group of 9(thousand) workers from a city. Will other workers have an incentive to join the cluster?
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Financial Accounting
Authors: Jan Williams, Mark Bettner, Joseph Carcello
18th Edition
1260247945, 9781260247947
