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QUESTION
In the typical signaling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers.
In the typical signaling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers. Suppose the government subsidizes low-ability workers for the higher costs they incur in obtaining an education.
- What happens to the signaling value of education?
