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In the O-Ring theory by Kremer, the level of output depends on the quality of the skill level, q, in this country. The figure below
In the O-Ring theory by Kremer, the level of output depends on the quality of the skill level, q, in this country. The figure below shows income as the skill level, q, rises from zero to one. One curve shows the case when there are 10 tasks in the production process and the other curve shows when there are 20 tasks
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Economics for Environmental Studies A Strategic Guide to Micro and Macroeconomics
Authors: Alfred Endres, Volker Radke
1st edition
364231192X, 3642311925, 9783662548264, 3662548267, 978-3642311925
