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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
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
Assume the firms cost function is: C(Q)= 100+10Q+Q^2 , Determine whether this industry is a natural monopoly when the demand function is: 1) D(P)= 100-3P 2) D(P)= 90-3P 3) D(P)= 10
You are dissatisfied along with the common level of presentation of one of your team. The quality of work is below your hopes. How will you deal along with this? You could take
what is reasoa
What are the import substitution policies? Import substitution policies are as follows: Need trade restrictions for example, tariffs and quotas to defend infant industr
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you are appointed secretary of the treasury of recently indepent country called rugaria
Yanni works for Woolworths Limited (WOW) and owns 5,000 Woolworths shares that he received in lieu of a bonus five years ago. Woolworths has reported an NPAT of $1.294 billion and
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