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Sharon Shay estimates that a college education has a $28,000 equivalent cost at graduation. She believes the benefits of her education will occur throughout the 40 years of employment. She thinks that during the first 10 years out of college her income will be higher than that of a non-college graduate by $3,000 per year. During the subsequent 10 years, she projects an annual income that is $6,000 per year higher. During the last 20 years of employment, she estimates an annual salary that is $12,000 above the level of the non-college graduate. If her estimates are correct, what rate of return will she receive as a result of her investment in a college education?
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land show diminishing returns, because some are better suited for wheat production than others. The first acre can produce 1000 bushels of wheat.
According to the chief engineer at the Zodiac Company, Q = ALf Kf , where Q is the output rate, L is the rate of labor input, and K is the rate of capital input. Statistical analysis indicates that f = 0.8 and f = 0.3. The firm's owner claims the ..
assume also that to finance the purchase you borrowed $10000 from a local bank 9% compounded monthly over two years. the bank calculated your monthly payment at $456.85 Assume that average general inflation will run at 0.5% per month over the next..
Suppose two people, Michelle and James each live alone in an isolated region. Both have the same resources available, and the grow potatoes, and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of..
Why are the marginal revenue numbers less than the price in the table on page 22-5? You can use either the original or the new MR numbers to answer this question. Note that this is different from pure competition, where P = MR. In other words
questions are even asking. Would you be able to explain what they are asking as well as provide me with a solution I'm more interested in LEARNING this than just getting the answer, so I really need help with the explanation of how you come up wit..
A golf course operator must decide the green fees (prices) to set on rounds of golf. Daily demand during the week is Pd=36-Qd/10, where Qd is the number of 18-hole rounds and Pd is the price per round.
TP TFC TVC 0 $45 $01 45 170 2 45 320 3 45 450 4 45 620 5 45 800 6 45 ..
One aspect of obtaining a college education is the prospect of improved future earnings in comparison to non-college graduates. Sharon Shay estimates that a college education has a $28,000 equivalent cost at graduation.
Irvine Aerospace of Santa Ana, California, was awarded a 5 year contract to develop an advanced space capsule airbag landing attenuation system for NASA's Langley research Center. The company's computer system uses fluid structure interaction mode..
Assume that a person's utility function is U(x,y)=x^2y^2 (yielding MRS=y/x) The price of X is $2 and the price of y is $5. Income is $100. What is the optimal choice? If a quantity tax of $0.50 is placed on good x, what is the new optimal choice
1995 200 2000 302 1996 215 2001 320 1997 237 2002 345 1998 260 2003 360 1999 278 2004 382 Calculate a trend line, and forecast sales foe 2005. How confident are you of this forecast
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