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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
There are some examples to government act upon of dip recession. Number of unemployment last long years in companies and take away labour in order to decreased pressure on expen
Suppose that a particular large hotel has 790 rooms. Furthermore, suppose that the hotel's marketing group's forecast is normally distributed with a mean demand of 730 rooms and a
You are evaluating a project in the country of Expropriationstan. You estimate end-of-year cash flows as follows. Assume your discount rate for evaluating projects of this sort in
Explain the discounting principle. Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next f
Make a list of businesses that provide goods and services that you or your family members use in a typical week. For instance, do you stop at the service station on your way to sch
Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H
1. Three clients of Disrup, Ltd P, Q and R are direct competitors in the retail business. In the first week of the year P had 300 customers Q had 250 customers and R had 200 custom
#sources of oligopolyn..
what are the pricing policies
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
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