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Figure 1: The Capacity Curve The Piece Rate

Work Capacity. v 3. v 1. v*. Income. Figure 1: The Capacity Curve The Piece Rate. Piece Rate. Aggregate Labor Supply. Figure 2: Labor Supply. Figure 3: Possible Equilibria. Employment Income. Figure 4: Effect of Non-Labor Income on the Capacity Curve. Land Owned.

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Figure 1: The Capacity Curve The Piece Rate

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  1. Work Capacity v3 v1 v* Income Figure 1: The Capacity Curve The Piece Rate

  2. Piece Rate Aggregate Labor Supply Figure 2: Labor Supply

  3. Figure 3: Possible Equilibria

  4. Employment Income Figure 4: Effect of Non-Labor Income on the Capacity Curve

  5. Land Owned Individuals Ranked By Land Owned Figure 5: Distribution of Land

  6. Piece Rate Individuals Ranked By Land Owned Figure 6: Effective Reservation Wage

  7. Piece Rate Piece Rate Individuals Ranked By Land Owned Aggregate Labor Supply/ Labor Demand Figure 7: Type of Equilibria

  8. Income from Work y0 y1 y2 y3 Inherited Income Figure 1

  9. Income from Work y2 y1 y0 Inherited Income y4 y5 y3 Figure 2

  10. Income from Work Inherited Income Figure 3

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