Analysis Indifference Curves for Children and Goods Assignment

Assignment Task

Q1. a) Show the preferences of a couple over the number of children it wishes to have and 'other goods' using indifference curves, when children are to be taken on the horizontal axis and other goods on the vertical axis. What will be an 'optimal' fertility rate in this society, when all goods, including children, are considered essential and normal goods?

b) Show what happens to the fertility rates if

i. Family income increases from sources other than wage income.

ii. Family income increases as a result of increase in wage income where it is given that women have to divide their labor time between raising children and being a part of the labor force. How would your answer to part ii change if wages were to go up exclusively for men?

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