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Question 1:
i) Use a simple human capital model to explain the rationale for undertaking higher education.
ii) Why do some people vary significantly in the amounts of human capital which they acquire? For instance, why is Jack a high school dropout, Sam a high school graduate and Richard a Ph.D?
Question 2:
Write short notes on any three of the following.
i) The structure-conduct-performance (SCP) paradigm ii) Harberger's (1954) welfare loss estimates iii) Hannah and Kay (1977) axioms iv) Female participation rates
THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate
Private and Social Benefits Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individua
what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?
The largest public utility company in New South Wales (NSW) is the sole provider of electricity across all regions in the state. The monthly demand for electricity in NSW is given
Molecular Energies, Translational, rational and vibration components of the energy of the molecules of a gas can be recognized. A molecule is a collection of atoms held in a pa
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Point Elasticity of Demand - For large price changes (such as 20%), value of elasticity will depend upon where price and quantity lies on demand curve. - Point elasticity me
Determine whether the ff is counted as part of gdp which of the ff statement are included or excluded 1.1A monthly cheque received by an economic stu
Simple Inventory Model Firstly, the product level initiates a demand, which generates a demand at the component level and then in turn at the raw material level. Think of an
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