(C) What is the impact of technological progress (i.e. when A increases)? You need to discuss the e↵ect on employment of skilled and unskilled labor, two real wages and output. Show the changes on the diagrams from part B.
There are two types of labor in the economy: skilled labor LS and unskilled labor LU . Of course, skilled and unskilled labor earn dierent wages: WS…
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