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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
You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
theory of profit maximisation
QUESTION 1 i) Use a simple human capital model to explain the rationale for undertaking higher education ii) Why do some people vary significantly in the amounts of human ca
Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the
QUESTION 1 (a) Illustrate the main causes of inflation in Mauritius. (b) Critically analyse the costs of inflation. Which of these items is likely to have encouraged the Mau
WHY DO GOVERNMNETS PLACE HIGH TAX RATES ON PRODUCTS SUCH AS PETROLA ND CIGRATTES
Consider the following four CP investors: Series A: $5m FV (and 2X liquidation preference) or converts to 5m shares; Series B: $10m FV or converts to 8m shares; Series C:
how to apply for hotel industry in crm
What is Rostowís model? Rostowís Stages of Growth model argues to attain modernity all countries pass through similar stages of development as explained as follows: a. Sta
Is unemployment and underemployment a problem? The cost of unemployment is both: • Economic along with the opportunity cost of lost output raised poverty and inequality
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