Which of the following hold good for Lewis model of development?
(A) Unlimited supply of labour
(B) Marginal productivity of labour in the subsistence sector is equal to, or less than, subsistence wage
(C) Dual economy with a modern sector and a subsistence sector
(D) Agricultural sector subject to increasing returns
(E) Model that explains the crucial role of capitalist surplus in the development process
Choose the more appropriate answer from the options given below :
1
(C), (D), (E) only
2
(A), (B), (C), (E) only
3
(B), (C), (D), (E) only
4
(A), (C), (D), (E) only