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Now, assume that the wealth of a Rich person is enough for the collateral. Thus, each member of R can be an entrepreneur. (i) Draw
Now, assume that the wealth of a Rich person is enough for the collateral. Thus, each member of R can be an entrepreneur. (i) Draw the labor supply and labor demand curves for Zinga. Calculate the equilibrium wage. (ii) Draw the new supply and demand curves for labor and note how the equilibrium wage would change, when there were three people in wealth group R and seven people in wealth group P, -still with wealth of $100 and $0
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