[size=110%]
[size=110%]
Assume: K is sector-specific in short-run but perfectly mobile in long-run. Give price ration, the economy is long-run equilibrium at B1(lower panel) initially, drawing the VMPL curves in the 2 sectors(up panel), point A1
determines the wage rate.
[size=110%]
moves to B2(lower panel). At A2, w has risen in terms of good 1. Returns to K in short-run rises in sector 2 and falls in sector 1.
[size=110%]
it sheds less L per unit-K than sector 2. w rises further,and is accompanied by a decline in k in each sector(as price is fixed in adjustment).
K/L ratio in both sectors rises, implying a B2-B1 adjustment path.
[size=110%]
ods. 

雷达卡


京公网安备 11010802022788号







