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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
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
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suppose that you have 150 observations on production and investment and you have estimated the following ADL(3,2)model;
critically evaluate the two main utility theories
How is the social capital measured? Measurement of the socilal capital: Social capital is a latest, multidimensional, qualitative idea which is problematic to measure. Res
case study on diamond price and petrol price for exxception to the law of demand
Do you agree with the traditional theory that assumes profit maximization as sole objective of a business firm?
meaning,feautures
(a) Give basic criteria for selecting an outsourcing supplier. (b) What do you understand by Request for Information and Request for Proposal (RFP)? (c) List down question
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
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