Figure 5 depicts the HT model. HH represents a rectangular hyperbola on which the rural equilibrium wage and employment level lie, for a given modern sector wage and employment level. Equilibrium may be stated as:
Figure 5 depicts the HT model. HH represents a rectangular hyperbola on which the ruralequilibrium wage and employment level lie, for a given modern sector wage and employmentlevel. Equilibrium may be stated as: