Welcome to Econ 325 Economics of Gender. Week 2 Beginning January 29. Monday, January 29. Note: All OCAs must be typed Return and discuss OCA1 # 4, page 12. Draw a separate graph for each question and describe the changes in the equilibrium wage rate and the number of workers.
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Beginning January 29
Chris earns $25/hour at his/her job.Who has absolute advantage in market work?
For every dollar of home good he/she produces Pat has to give up $5 earned income
For every dollar of home good he/she produces Chris has to give up $3 earned incomeWho has comparative advantage in home work?
1. Pat has absolute advantage in _______.
Chris has absolute advantage in ______.
2. Who has comparative advantage in home good?
4. Pat should work outside home and Chris should work at home (based on comparative advantage)
5. The terms of trade depends on opportunity cost