# Study Guides for MGEC58H3 at University of Toronto Scarborough (UTSC)

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## MGEC58H3 Lecture Notes - Lecture 12: Utility, Income Splitting

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Solutions to problem set 6 team production. 1(a) to show the difference between the utility maximizing choice of effort and the socially efficient choi

View Document## MGEC58H3 Lecture Notes - Lecture 11: Production Function

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Suppose that there are 10 workers are working together to produce output as a team. The standard team production rules apply: the firm can"t view effor

View Document## MGEC58H3 Lecture 7: New Problem Set 2 Solutions

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Solutions to problem set 2 training and human capital. First consider the incentives for the worker for training or not training. The way to answer que

View Document## MGEC58H3 Lecture Notes - Lecture 8: Deferred Compensation, Problem Set, Saber Of London

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Solutions to problem set 3 deferred compensation. The total payment from wage profile ii is: Thus, both profiles pay ,000 over the five periods, so it

View Document## MGEC58H3 Lecture Notes - Lecture 9: Profit Maximization, Becquerel, Algebraic Expression

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Solutions to problem set 4 variable pay. 1(a) we begin by determining how the worker will react to any contract set out by the firm. To do so, we know

View Document## MGEC58H3 Lecture Notes - Lecture 10: Problem Set, Random Variable, Production Function

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Solutions to problem set 5 tournaments and promotion. In order to think about how to compute the probability that worker #1 wins the. 1(a) tournament,

View Document## MGEC58H3 Lecture Notes - Lecture 6: Marginal Revenue Productivity Theory Of Wages, Horse Length, Profit Maximization

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Solutions to problem set 1 labour supply and labour demand. We know that the equilibrium condition for the labour supply model is: Mut/muc = w. also, s

View Document## MGEC58H3 Lecture Notes - Lecture 5: Probability Distribution

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Problem set 5 tournaments and promotion: consider two workers who have the following production functions. In this case, q1 and q2 represent the output

View Document## MGEC58H3 Lecture Notes - Lecture 4: Utility, Becquerel, Random Variable

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Consider a worker who has the following utility function: U = y c(e) where y represents his income, and c(e) is a cost function with respect to the amo

View Document## MGEC58H3 Lecture Notes - Lecture 1: Demand Curve, Perfect Competition, W. M. Keck Observatory

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Problem set 1 labour supply and labour demand. Suppose that there are three utility functions for consumption (c) and leisure (t): U(c,t) = 0. 2c0. 5 +

View Document## MGEC58H3 Lecture 3: Problem Set 3

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Problem set 3 deferred compensation: ben has just started a job at big boys management consulting, inc. He will stay there for exactly 5 years unless h

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