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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
WHY DO GOVERNMNETS PLACE HIGH TAX RATES ON PRODUCTS SUCH AS PETROLA ND CIGRATTES
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space? What impact might this in
summarize the basic tenets of the arguments in case
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •
GDp of World?
factors that affects sthe volume of production in economy
how does the buying and selling of stock fit the model for perfect competition?
Please comment on the following statement. True, False, or Uncertain: If an investor believes that the total valuation of a company is higher than the post-transaction valuation fo
New trade theory
Difference between gross barter and net barter terms
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