Question : Plz help me solve the Economic Demography problem.
Plz help me solve the Economic Demography problem.
QUESTION 1: Gains to Marriage We have two people, Elizabeth and Jason. When working full time, Elizabeth earns 50 and Jason earns 90. Each must complete chores at home which take up half of their time if single. The utility that they each obtain from working is linear with earnings. That is, each individual derives x utils of utility from earning x dollars. In addition each individual derives 20 utils from having their chores completed. at is Jason's utility when single? (c What is their utility as married if only Jason works? (what is their utility as married if only Elizabeth works? (e)What is their utility as married if they both work part time and both do part time household chores? (f Imagine that Elizabeth gets a raise and now she earns 90. What is their new utilities if single? What are their gains to marriage if both work and both do house chores? What are their gains to marriage if only one person works and the other does house chores? (g)What are the gains of marriage when both Elizabeth and Jason make $90? makes 50 and only Jason works in the labor market?