How much is produced by high- and low-ability people


Problem

Start with the example of the social contract given in Question 6 but suppose that 75 percent of the people are high ability and 25 percent are low ability. What does the social contract look like for this economy? How much is produced by high- and low-ability people? What is the total amount of output per capita? What is the consumption per capita?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: How much is produced by high- and low-ability people
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