question archive Consider a labor market model with many identical firms hiring workers
Consider a labor market model with many identical firms hiring workers
Subject:FinancePrice: Bought3
Consider a labor market model with many identical firms hiring workers. The firms produce a homogeneous product with a constant-returns-to-scale technology and act as price takers (we normalize the price of the product to $1). A worker, if hired by a firm, can produce 0 units of output per day, where 0 differs across workers. More specifically, there are...
