a firm can hire two types of workers: H-type workers who have high productivity

Question

a firm can hire two types of workers: H-type workers who have high productivity and L-type workers who have low productivity. once hired the worker works for 10 years . the market rate of interest is zero. the production function is q=40EH+30EL where EH+EL=10. the firm sells its output at a price of 10 per unit a.Under competitive conditions how much will each type earn b.assuming the firm cannot distinquish between the two type of workers and that it is equally likely that a worker is of either type , what wage will the firm offer? c.some workers have the option of obtaining a few years before they start working . explain how the firm can use education in solving the problem of information assynmetr?

Explanation / Answer

Best by way of a extreme effort can we put ourselves approximately in
the position of the pre-Socratic philosophers, in order in a measure to have
their point of view and comprehend their problems. Most of them
had no schools and made no propaganda for his or her beliefs, and left no
writings, and now we have little exact knowledge of their programs.
A lot of their sayings which were preserved look to us darkly
enigmatical, and, as they are mentioned, most of their investigations and
theories show up to us futile, despite the fact that in some matters they have got
curiously expected the very modern day scientific inspiration. Normally,
the outcome of their speculations appear strange to ultra-modern minds.
Fortunately we don't must comprehend and fully grasp the views of
the pre-Socratic philosophers to be able to understand Plato's^report of
Socrates's defense earlier than his judges. Plato seldom refers extraordinarily
to his predecessors, not to speak of quoting from them, and Soc-
charges presented no philosophical questions in his speech to the court.
To assess the indebtedness of Socrates and Plato to their prede-
cessors is an intriguing obstacle, however it does not crisis us here.
At £>resent we need to do not forget simplest that the germs of all later sys-
tems of philosophy show up in the ideas of the Platonic Socrates.

3. The Seven Sages 1 or sensible Lien of Greece were not philoso-
phers at all, in the trendy experience. They have been guys of affairs, not
of speculation. The traditions which we've in regard to them do
no longer agree in every point, but are harmonious in reju-esenting them
as rulers stuffed with functional wisdom. The sensible Solon himself was once
neither a metaphysician nor a psychologist. He was a legislation-giver, and
his thoughts had been directed primarily toward approach for securing a
law-abiding and united spirit in the minds of the persons of Athens.
All the others of the Seven, in keeping with Cicero, had been rulers of their
states, with the one exception of Thales, and he additionally, as Herodotus
tells us, gave attention to political measures.

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