figures assignment 1

figures assignment 1 - Specialization Figure 5 Market Work...

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MW MW 5 5 4 6 NMW NMW 2 3 MW 5 NMW 5 2 3.6 6 NMW MW 4 5 MW NMW 5 4 NMW MW 6 3 4 8 NMW MW NMW MW 6 Figure 1: Market Work Non-market Work Jack 6 4 Jill 5 5 Jack Jill Figure 2: Market Work 60% Non-market Work 40% Jack 3.6 1.6 = 5.2 Jill 3 2 = 5 Household income without specialization = 10.2 Jack without specialization Jill without specialization
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Figure 3: Jack Market Work Oc(mw) = 4/6 = .67 Jack Non-Market Work Oc(nmw)= 6/4 = 1.5 Jill Market Work Oc(mw) = 5/5 = 1 Jill Non-Market Work Oc(nmw) = 5/5 = 1 Market Work .67 < 1 = Jack Non-Market Work 1 < 1.5 = Jill Figure 4: Market Work Non-market Work Jack 6 0 = 6 Jill 0 5 = 5 Household Income with Specialization = 11 Jack with Specialization Jill with
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Unformatted text preview: Specialization Figure 5: Market Work Non-market Work Jack 6 4 Lisa 8 3 Jack Lisa Figure 6: Market Work 60% Non-Market Work 40% Jack 3.6 1.6 = 5.2 Lisa 4.8 1.2 = 6 Household Income without Specialization = 11.2 Jack Market Work Oc(mw) = 4/6 = .67 Jack Non-Market Work Oc(nmw)= 6/4 = 1.5 Lisa Market Work Oc(mw) = 3/8 = .375 Lisa Non-Market Work Oc(nmw) = 8/3 = 2.67 Market Work .375 < .67 = Lisa Non-Market Work 1.5 < 2.67 = Jack Market Work Non-market Work Jack 4 = 4 Lisa 8 = 8 Household Income with Specialization = 12...
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This note was uploaded on 04/05/2011 for the course ECON 350 taught by Professor Kilborne during the Spring '10 term at Grand Valley State.

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figures assignment 1 - Specialization Figure 5 Market Work...

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