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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
The manager of a movie production company is thinking of investing in new graphics computers for a price of $325,000. The computers are expected to have a useful life of 3 years.
What is structural change? Structural change: Structural change arises while the associate share of GDP and employment accounted for through the primary, secondary and te
Assume there are two teams in the league: Los Angeles and Sacramento. Because it is a much larger metropolitan area, the revenue generated at any given winning percentage is hi
What is Frugal Economy
How do economists differ from accountants in the use of the term profit ? Definition of rev and accounting costs Explanation/outline of opportunity costs, for example
Question 1: What are the main predictions of the Capital Asset Pricing Model (CAPM)? Discuss the role and significance of the assumptions needed to obtain the predictions.
Price Ceilings and Floors 1. Explain the impact on the market if the government imposes the following price ceilings and floors. 2. Draw two graphs, one for eggs, and one
how many statics numericals in quantitative economics
What are the disadvantages of a informal economy?
how the concept of elasticity used for policy formulation
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