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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
why do companies privitise? what is the objectives of privitisation? what are the advantages and disadvantages of privitisation?
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An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
how many statics numericals in quantitative economics
Chelsea Football Club a) Reasons could include: the probable for CFC to return healthy profits; CFC may have been undervalued at the time of purchase; Abramovich could simply b
Usage of Game Theory in Managerial decision
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Question #1 A baseball team is trying to predict ticket sales for the upcoming season. They are also considering increasing prices. The market has a population of 2 million perso
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