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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 the abstracting and indexing services in social science?
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state the demand theory.
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Define the planned or command economy system. Planned or command economy: Resources are owned through the state. The state assigns resources, and sets production goals a
explain ththe test marketing approaches followed by fmcg companys
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