Ch and and CI 7. Consider that education is a continuous variable, where e and e, respectively denotes years of schooling for high and low ability worker where 0 denotes the share of high-ability workers in the economy. The cost of education per year for these types of worker is (with c = ∞). Wages received by these workers (under perfect information) are wh WI 15000, wh 40000& respectively. Find the condition of "separating equilibrium". If Ch (2+3) 20000, for what values of 0 is a pooling equilibrium possible? W₁ = 1 =

Ch and and CI 7. Consider that education is a continuous variable, where e and e, respectively denotes years of schooling for high and low ability worker where 0 denotes the share of high-ability workers in the economy. The cost of education per year for these types of worker is (with c = ∞). Wages received by these workers (under perfect information) are wh WI 15000, wh 40000& respectively. Find the condition of "separating equilibrium". If Ch (2+3) 20000, for what values of 0 is a pooling equilibrium possible? W₁ = 1 =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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