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1. Illustrate the full income budget constraint on an individual who has T0 units of discretionary time, Y0 units of unearned income and a wage rate of W0.
2. In the same diagram, illustrate the utility maximizing choice of leisure and goods/income. Indicate the number of hours that this individual works.
3. Now suppose that some kind of time-saving device (such as improved transit or the introduction of microwave ovens) increases the amount of discretionary time to T1>T0. Illustrate the new budget constraint in your diagram.
4. How does this increase in discretionary time affect the quantity of labour supplied to the market? Explain and illustrate in your diagram.
Discuss how the accounting for an employer's defined benefit plan differs from accounting for the defined benefit's pension fund itself.
Which of the following are characteristic of principal-agent conflicts that often exist in a firm? Managers do not always operate in the best interest of owners because owners are generally more risk averse than managers.
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
For a competitive market,
A corporate expects to receive $34,688 each year for 15 years if a particular project is undertaken. There will be an initial investment of $122,261. The expenses associated with the project are expected to be $7,426 per year.
Briefly describe how these firms would price discriminate: department stores, airlines, movie theatres
Leadership in agile project management focuses on _____. Leadership in traditional project management focuses on _____.
Frank is a single-father with one child. The cost of child-care is equivalent to $150 per day. When Frank works, he receives an hourly wage of $20. In addition he has $150 of non-labor income per day. He sleeps 8 hours a day. Given these constraints,..
If a person can either fish or chop coconuts for subsistence, what does production look like.
Suppose that the demand curve for a product is given by P=36-Q where P is in thousands of dollars per auto and quantity is in millions of cars per year. What other things are held constant when one moves along a demand curve?
What would be price and profit levels would prevail based on the assumption that a new entry into the local market results in competitive market pricing.
An office supply company has purchased a light-duty delivery truck for $16,000. The truck will be depreciated under the MACRS with a property class of five years. The truck’s MV is expected to decrease by $1,500 per year. It is anticipated that the p..
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