2. Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half

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2. Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half times as much on each adult as they do on each child.

a. Does this mean that children are deprived and that the distribution is unfair?

b. Do you think these percentages change with family income? If so, how?

c. Do you think that the allocation would be different in a family in a command economy than in a capitalist economy? Why?

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Microeconomics

ISBN: 9780077501808

9th Edition

Authors: David Colander

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Question Posted: Oct 12, 2024 08:02 AM

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2. Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half

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Microeconomics

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