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Birthrate and the market for babysitting services

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The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal.

a. The market for an hour of babysitting services in Middling today
b. The market for an hour of babysitting services 14 years into the future, after the birth rate has returned to normal, by which time children born today are old enough to work as babysitters
c. The market for an hour of babysitting services 30 years into the future, when children born today are likely to be having children of their own.

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Solution Summary

The solution discusses birthrate and the market for babysitting services.

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For this problem you are expected to use supply and demand analysis. The supply curve slopes upward, and the demand curve downward. When there is an increase in the ...

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