Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the optimal level of education for an individual to take if next period's earnings in any given time are worth 95% of current earnings for that individual? - HINT: the ---
Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the optimal level of education for an individual to take if next period's earnings in any given time are worth 95% of current earnings for that individual? - HINT: the ---
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: Earnings And Discrimination
Section: Chapter Questions
Problem 5PA
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The answer is s = 20/57
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Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the
optimal level of education for an individual to take if next period's earnings in any
given time are worth 95% of current earnings for that individual?
HINT: the](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F083b3a30-aeda-4635-ab40-6ff1e9841986%2Ff9d23fd9-b2d8-44f6-9801-dff0b67dcf9d%2Fm42yu3b_processed.png&w=3840&q=75)
Transcribed Image Text:----
Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the
optimal level of education for an individual to take if next period's earnings in any
given time are worth 95% of current earnings for that individual?
HINT: the
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