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Business, 18.12.2019 04:31 cjones2941

An economy has two types of jobs, good and bad, and two types of workers, qualified and unqualified. the population consists of 60% qualified and 40% unqualified. in a bad job, either type of worker produces 10 units of output. in a good job, a qualified worker produces 100 units, and an unqualified worker produces 0. there is enough demand for workers that for each type of job, companies must pay what they expect the appointee to produce.

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