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Megan is thinking about creating a small college fund for her daughter, Jayda, to help Jayda with the first year of tuition. Jayda is four years from starting university, and Megan estimates that tuition will be about $10,000. Megan has $10,000 today, but she wants to spend some of it on a new computer. How much of the $10,000 will Megan need to invest today in an account with a seven-percent interest rate to have enough in four years to pay for the first year of college? (Round your answer to the nearest dollar.)
How can a student apply the ideas of Grit and growth mindset to improve or strengthen their college score?
Use of the term "behavioural economics" has been criticized on two accounts: redundancyand ambiguity. Briefly explain these two criticisms and determine whether they have anybearing on the merit of this line of economic study.
Suppose that c=0, the discount factor is ρ (rho), and demand is constant elasticity, y = p^-η. Write the equilibrium conditions for the competitive firm and the monopoly in this case. For the monopoly equilibrium condition to be sensible, what restri..
Two manufacturing firm, located in cities 90 miles apart, both send their trucks four times a week to the other city full of cargo and return empty. Each driver costs $275 per day with benefits (the round trip takes all day) and each firm has truck o..
Explain why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment rate.
The average revenue for product Q is given by AR = 120 – 3Q and the total cost of Q by: Find the price function and then the TR function. See Assignment 3 or 4 for an example. What total profit will result from selling the quantity found in (c) at th..
In the short run, information about a perfectly competitive firm’s fixed costs is needed to determine both the profit-maximizing level of output and the amount of profit earned when producing that level of output.
A pet store is considering adding an employee discount of 25% off anything in the store to the benefits the employees already receive. What are the long-run implications of adding this benefit to the wages that its employees receive and to the type o..
Within 20 years we will have seen the emergence of enormous global markets for standardized consumer products. Do you agree with this statement? Why or why not?
A labor economist wants to know the relationship between education (measured by years of schooling) and annual earnings (measured in $1000). A random sample of 222 workers revealed a correction coefficient of 0.88. Based on the coefficient, Among the..
A 6.5% $20,000 bond with interest payable quarterly is due 30 years from now. What is the present value of the bond if the purchaser desires to make a rate of return of 12% per year compounded monthly? Use Present Worth Balancing Equation and solve f..
Suppose the intermediation of capital goods costs f units of the consumption good for each unit of capital intermediated (f
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