Question: Question 1: a. Co-ordination failure when multiple equilibria are present is seen as one cause of underdevelopment. Explain using an example in a payoff matrix.

Question 1: a. Co-ordination failure when multiple equilibria are present is seen as one cause of underdevelopment. Explain using an example in a

Question 1: a. Co-ordination failure when multiple equilibria are present is seen as one cause of underdevelopment. Explain using an example in a payoff matrix. Please do not use the payoff matrix from my slides or class notes. Matrix: (10 points) Explanation: (5 points) Use the graph of Roden's Big Push Model to explain why "Big push" might be needed to modernize? Label the graph carefully. Explain the range for modern sector wage where there will be a need for big push using your graph. GRAPH (15 points)

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