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Problem 1:
(a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model?
(b) Compare and contrast the functioning of the income and substitution effects of the two models.
Problem 2:
(a) The monopoly union model assumes that union sets wage rate while the firm sets the level of union employment, based on this wage rate. Using appropriate equations and diagram, explain carefully the functioning of the monopoly union model.
(b) Comment on the direct and indirect test of the Efficient Contract model
is indian companies running a risk by not giving attention to cost cutting?
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Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b
QUESTION 1 (a) Explain clearly the various sources of Industrial Law (b) The mutual consent of the contracting parties is required for a contract of employment to be valid, but
Calculate Average Total Cost A perfectly Competitive firm is operating at a profit-maximizing level of output, q*. This output level is 500 units. At this output level, the
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Problem 1: "African Caribbean and Pacific (ACP) countries no longer have preferential access to the European market for their exports, except under provisions of „Special and D
Scenario: A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions
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