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When talking about fertility choice, we define the indifference curve as the combination of number of...

When talking about fertility choice, we define the indifference curve as the combination of number of children and consumer goods that offer a household the same level of satisfaction. Due to changes in preferences and benefit of children, the indifference curve may become flatter for developed countries while it is steeper for developing countries. In this model, what does the slope of the indifference curve measure? Interpret why the indifference curve is flatter for developed countries and steeper for developing countries.

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Rahul Sunny answered 2 years ago
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