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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
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There are many benefits to a free market economy. They range from the moral issues to the practical issues. We will deal mainly with the practical ones. Unprecedented innovati
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
assignments for eco revenww concepts
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QUESTION 1 (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
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