Part D E 2) Suppose now that the employer's beliefs are instead:Type 1 with probability 1A worker is { Type 1 with probability q1if y < y*if y > y*Type 2 with probability 1 – q1 if y2 y*Note this is not the same set of beliefs as in the second example in the lecture and the paper!a) Write down the new wage schedule offered by the employer (Hint: assume workers are paid theirexpected marginal product)b) What are the plausible choices of y for each type of worker now?c) What is the education schedule facing each of Type 1 and Type 2 workers?d) Draw a new graph showing the wage schedule and the cost functions for both types. Clearly indicatethe payoff for each type of worker given their choices and y*e) Can this setup result in a signalling equilibrium? If yes, what are the specific conditions and resultsthat support such an equilibrium, and how many equilibria are there? If not, why does this setup notsupport a signalling equilibrium?f) What wage does each type of worker make here? What is the outcome (wage minus costs) for eachtype of worker?g) How does your answer to the previous question (2f) change if the employer's beliefs are instead asgiven below? Compare your answers for each of these alternative sets of employer beliefs: what effectdoes getting more schooling have? Discuss.if y< y*Type 1 with probability qıType 2 with probability 1– q1 if yy*

Name: Part D E 2) Suppose now that the employer's beliefs are instead:Type 1
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Description: Part D E 2) Suppose now that the employer's beliefs are instead:Type 1 with probability 1A worker is { Type 1 with probability q1if y y*Type 2 with probability 1 – q1 if y2 y*Note this is not the same set of beliefs as in the second exampl

Answered: Part D E

Math

Statistics

Part D E

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Angles in Circles

Angles within a circle are feasible to create with the help of different properties of the circle such as radii, tangents, and chords. The radius is the distance from the center of the circle to the circumference of the circle. A tangent is a line made perpendicular to the radius through its endpoint placed on the circle as well as the line drawn at right angles to a tangent across the point of contact when the circle passes through the center of the circle. The chord is a line segment with its endpoints on the circle. A secant line or secant is the infinite extension of the chord.

Arcs in Circles

A circular arc is the arc of a circle formed by two distinct points. It is a section or segment of the circumference of a circle. A straight line passing through the center connecting the two distinct ends of the arc is termed a semi-circular arc.

Topic Video

Question

Part D E

2) Suppose now that the employer's beliefs are instead:
Type 1 with probability 1
A worker is { Type 1 with probability q1
if y < y*
if y > y*
Type 2 with probability 1 – q1 if y2 y*
Note this is not the same set of beliefs as in the second example in the lecture and the paper!
a) Write down the new wage schedule offered by the employer (Hint: assume workers are paid their
expected marginal product)
b) What are the plausible choices of y for each type of worker now?
c) What is the education schedule facing each of Type 1 and Type 2 workers?
d) Draw a new graph showing the wage schedule and the cost functions for both types. Clearly indicate
the payoff for each type of worker given their choices and y*
e) Can this setup result in a signalling equilibrium? If yes, what are the specific conditions and results
that support such an equilibrium, and how many equilibria are there? If not, why does this setup not
support a signalling equilibrium?
f) What wage does each type of worker make here? What is the outcome (wage minus costs) for each
type of worker?
g) How does your answer to the previous question (2f) change if the employer's beliefs are instead as
given below? Compare your answers for each of these alternative sets of employer beliefs: what effect
does getting more schooling have? Discuss.
if y< y*
Type 1 with probability qı
Type 2 with probability 1– q1 if y<y*
Type 2 with probability 1
A worker is
if y >y*

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