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Think about an extension of the specific-factors model, in which, in addition to their wage, labour also earns some part of the rental on specific factor in their industry, i.e., farmers who own their own land and manufacturing workers who salary includes a profit based bonus. Discuss how this extension affects the conclusion of the model

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91229112

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