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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
QUESTION (a) Explain the relationship between scarcity, choice and opportunity cost. (b) What is market failure and why does it occur in an economy? (c) Differentiate, us
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
Illustrate the implications of agricultural price instability problem for Less Developed Countries? Implications of agricultural price instability problem for LDCs: a. Agric
(a) Name three types of government interventions and 3 economic factors affecting the business environment and with given example explain how these affect the business environment.
QUESTION (a) Explain and discuss the Structure Conduct Performance framework (b) The hypotheses of interest in the Structure Conduct Performance framework are as follows- H
Scheduling a project includes understanding the degree to a project tasks can be separation. Define the meaning of this term and what effect does partitioning have onto the schedul
Consider a market for a good where there is a per unit tax set at t cents per unit sold, where the demand curve slopes downward and where supply is perfectly inelastic. Suppose the
What are development policies? Development policies are strategies adopted through governments, international agencies as like the IMF and non-government organisation (NGOs) a
Provisionally the new software is called SafeCus with two projected levels of service - Premier and Standard. The Premier Level could be on sale within a year and will provide b
International Labor Mobility
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