a. Draw a graph of the household production model, for a household shared by a man (m) and a woman (f). Assume that the man's wages are higher (wm > w f) and that the woman is more productive in the household (hm < h f). Be sure to show both their individual and joint production possibilities frontiers (PPFs), and make sure you label all axes, intercepts, and lines. PLEASE SHOW THE GRAPH!!!!!!!!

b. Now suppose the gender gap in wages closes completely, so that wm = w f . Draw a second graph that shows this situation. Will there still be gains from "trade" in this household?

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The two graphs generated represent the household production model under different wage and productiv... View the full answer