Business, 24.12.2019 18:31 nkslsj

Show and discuss the economics of land reform policy to redistribute agricultural lands across two equal groups of farmers. assume the two groups have the same human capital in terms of farming (same marginal product curves) and that the amount of agricultural available land is fixed and constraining. find the agricultural output maximizing allocation of land between the two groups. show that any other allocation of land will result in lower total output. discuss the output per person in each group under both scenarios and why a sub-optimal distribution of land might persist.

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