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The returns to post-secondary education differ significantly between areas of study - some degrees earn more than others. However, universities generally charge the same tuition regardless of program. (When the U of A tried to introduce "market modifiers" for tuition rates in some programs, it was met with vigorous protests.) Do think that this is a good system or should universities charge different tuition for different programs based on the expected earnings of those degrees?
Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. In which direction will the substitution effect..
Illustrate what is the minimum price necessary for this firm to produce any output in the short run.
Assume the price of capital doubles and, as a result, firms make no change in the relative quantities of capital and labor they employ. This implies that:
What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall? Why or why not?
A county is considering building a temporary road to cut travel time during the two years it will take to build a permanent highway. The temporary road can be put up in the beginning of the project at a cost of $900,000. Total maintenance cost of the..
How might the regulation of insurance and related markets decrease/ increase social instability?
Golshan company purchased a robot costing $320,000 in year 0. The robot is classified as a seven-year MACRS recovery property. If the robot is to be sold after five years, compute the amounts of gain or losses for the following three salvage value, a..
analyze the graphs and briefly describe the similarities and differences between the short and long run operation of each business
What are the factors which led M&S to internationalize
How many kilometers must a car be driven per year for leasing and buying to cost the same? Use 10% interest and year-end cost. Leasing: $0.15 per kilometer Buying: $5000 purchase cost, 3-year life, salvage $1200, $0.04 per kilometer for gas and oil, ..
At a monthly staff planning meeting, the outlook for the national economy was a topic of discussion. During the discussion, one participant noted that gross domestic product (GDP) was expected to increase only slightly for the coming year. Another co..
"Suppose the market for oranges is disturbed by below-freezing cold weather that destroys much of the orange crop in the California. Predict what will happen to the equilibrium price and quantity in the market for oranges because of this natural d..
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