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Consider the child labor multiple equilibria model

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Questions

1. Consider the Child Labor Multiple Equilibria Model. How is it possible to have 2 equilibria? What the government can possibly do to deal with it? Explain your answers?

2. Consider the Lewis two-sector model. What are the 2 main assumptions related to the traditional sectors? How do these assumptions help explain the constant flow of workers from the traditional to the modern sector?

Reference no: EM133377462

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