Labor Economics
7th Edition
ISBN: 9780078021886
Author: George J Borjas
Publisher: McGraw-Hill Education
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Question
Chapter 6, Problem 15P
a)
To determine
The effect of preferences, costs, and individual-specific returns to education on optimal amount of schooling.
b)
To determine
The reason for opting very little schooling by someone who faces a very steep returns to education.
c)
To determine
The annual return to an additional year of schooling.
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Can you show me the answers for parts a and b? Thanks.
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What are the answers for a,b,c,d? Are they supposed to be numerical answers or in terms of a variable?
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