True/false/ambiguous. For each of the following, indicate
whether the statement is true, false, or ambiguous, and briefly
explain your answer. If your answer depends on any assumptions,
state them clearly. Use graphs or equations to illustrate your
answer whenever it is helpful.
1. A worker should never trust an implicit contract with an
employer that pays them less than their marginal product when they
first join the firm, but more than their marginal product after
many years with the firm,...