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QUESTION
Firm-specific training. You observe that employment in certain industries has not fallen despite the recent economic downturn.
4. Firm-specific training.
a. You observe that employment in certain industries has not fallen despite the recent economic downturn. How might our discussion of firm-specific training explain this phenomenon?
b. Give a brief intuitive explanation for why a worker would be unwilling to bear the full cost of firm-specific training.
