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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
Ask ques Choose a topic from Micro economics that matters to you and find a recent news article covering that topic. For example following can be some of the useful topics: - Austr
Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
It is significant that the contracts between the main contractor and the customer and between the key contractor and subcontractors are back-to-back; what is meant by that term?
When it works, government "industrial policy" that funnels critical capital to just the right ventures and facilitates market coordination-in contrast to usually messy market compe
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
What are the factors of evaluating a policy or institution? Factors to consider during evaluating a policy or institution comprise: • Internal and external constraints onto
I. Describe your company Relevant history Resources, strengths, weaknesses Purpose, mission (what does your company do for whom) Company brand / position: what m
You own a small retail business that produces a product that is slightly different from that of your many competitors. Your firm is currently making an economic profit. The absolut
GDp of World?
Is low savings a problem? Countries along with low savings are caught into the vicious circle of poverty: there low savings, implies low investment low productivity therefore
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