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Suppose there are two types of workers: high ability and low ability. The training program costs $15000 per year for the high ability worker and $30001 for the low ability worker. The firm intends to pay $210000 to workers with y years of education, and $120000 to workers without a diploma. What is the range of y that would make this an effective screening mechanism? What value of y survives as a solution if all firms are competing for high ability workers?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947834

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