Assume there is an imperfect capital market. Draw a graph to show the optimal ye

Question

                            Assume there is an imperfect capital market. Draw a graph to show the optimal years of schooling for an                                                                               individual with high access to funds but of low ability and an individual with low access to funds but with                                                                               a higher ability level. Which individual invests more in schooling? Is this answer unique or does it depends                                                                               on the relative dierence in the access to funds and the ability level of these two individuals?                                                      Assume there is an imperfect capital market. Draw a graph to show the optimal years of schooling for an                                                      individual with high access to funds but of low ability and an individual with low access to funds but with                                                      a higher ability level. Which individual invests more in schooling? Is this answer unique or does it depends                                                      on the relative dierence in the access to funds and the ability level of these two individuals?                         

Explanation / Answer

Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student

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