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The Big Push model illustrates alternative cases where the economy can reach equilibrium with a higher...

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Economics

The Big Push model illustrates alternative cases where theeconomy can reach equilibrium with a higher level of total outputwith coordinated efforts by modern firms and cases where such anoutcome is impossible despite such efforts. Explain with a graphonly the case where there exists a possibility of a coordinationfailure.

Suppose that a developing country devotes extensive resourcestowards improving the education and skill level of the labor force.How might this help the economy avoid a coordination failure? Isthis strategy likely to be successful? Why or why not?

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