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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
Question 1: a. Describe the role of trade union in the wage bargaining process. b. Formulate a model that tests for the wage gap between union and nonunion earnings in a
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is industrial ethics contradictory?
what are the pricing policies
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
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