When the western part of the United States was sparsely populated, many small towns had a single

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When the western part of the United States was sparsely populated, many small towns had a single schoolhouse in which one teacher taught all subjects to students of all ages. Nowadays, in large cities, teachers are often highly specialized, teaching a single subject, such as mathematics, to just one grade level. Explain why this change occurred by making reference to Adam Smith’s famous description of a pin factory.

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Managerial Economics and Strategy

ISBN: 978-0321566447

1st edition

Authors: Jeffrey M. Perloff, James A. Brander

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