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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
I want to do few projects on this topic.
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
summarize the basic tenets of the arguments in this case?
Explain the ways in which businesses may try to influence government policy in a way that might benefit them. In the light of government regulation, businesses may become inv
The managing director of Christine plc, a company which specialises in acquiring small businesses, has considered the following potential investments. Only one of these investments
demand and supply curve for luxury goods
Nathan is a successful public relations (PR) consultant, thanks to an outgoing personality and sharp intelligence. At 35, he is near the height of his earnings potential, at around
Three factors which need to be assessed while considering risks are urgency, impact and likelihood. Define what is meant by every of these terms and demonstrate how each might be a
Use short notes and illustrations to answer the following questions: i) Distinguish between an indifference curve and an isoquant ii) Distinguish between substitution and inc
Define the macroeconomic stability in market for promoting development. Macroeconomic stability implies that: • Tight fiscal policy that is balanced government budgets and d
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