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Dear Tutor, please choose the right answers only without explanation. Thank you. a) The income elasticity of demand for children measures the re sponsiveness of
Dear Tutor, please choose the right answers only without explanation. Thank you.
a)
The income elasticity of demand for children measures the re sponsiveness of the demand for children to a change in the price for children, holding all other pricce constant. Consider \"Division of Labor\" as a motive for marriage. In case individuals A and 13 earn the same wage on tho labor market when single and joint household output is always shared equally between spouses in marriage, then gains from a marriage between A and B may stem from both increasing returns to scale and comparative advantage. According to \\Weiss (1997) the division of labor to exploit economies of scope is a broad source of gain from marriageStep by Step Solution
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