question 1i use a simple human capital model to, Microeconomics

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question 1i use a simple human capital model to

Question 1:

i) Use a simple human capital model to explain the rationale for undertaking higher education.

ii) Why do some people vary significantly in the amounts of human capital which they acquire? For instance, why is Jack a high school dropout, Sam a high school graduate and Richard a Ph.D?

Question 2:

Write short notes on any three of the following.

i) The structure-conduct-performance (SCP) paradigm
ii) Harberger's (1954) welfare loss estimates
iii) Hannah and Kay (1977) axioms
iv) Female participation rates

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