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The key is that the selected sample contains only employed women. Consider two women, Beth and Julie. Beth has no children; Julie has one child. Beth and Julie are otherwise identical. Both can earn $25,000 per year in the labor market. Each must compare the $25,000 benefit to the costs of working. For Beth, the cost of working is forgone leisure. For Julie, it is forgone leisure and the costs (pecuniary and other) of child care. If Beth is just on the margin between working in the labor market or not, then Julie, who has a higher opportunity cost, will decide not to work in the labor market. Instead, Julie will work in "home production," caring for children, and so forth. Thus, on average, women with children who decide to work are women who earn higher wages in the labor market.
Can someone explain this in layman's term?
All of the following are disadvantages of cost-plus pricing except:
Uncertainty and Insurance: You own a house and have a utility function equal to in which x1 represents your total wealth in a state of nature in which your house is still standing, and x2 represents your total wealth in a state of nature in which you..
Post and discuss why the tax credit enacted by the 2009 American Recovery and Reinvestment Act has no effect on the employees’ supply of labor using the concepts of consumer surplus, producer surplus and deadweight loss. Apply the effects of the Soci..
If your goal is to make a more entertaining race, which of the two options below is a better method of distributing the payouts? Why?
Describe each of the four criteria or dimensions of customer service and explain how Zara seems to approach each of the4 dimensions of customer service
How many jackets should you make to minimize the cost of the jackets? How much would be the minimum cost?
Is our economic system still based on capitalism? Or have our largest industries been nationalized?
A newsletter article for an orgnization's monthly employee newsletter. The article will be the first in a series of monthly articles on security related topics.
Suppose that a war in other countries led to higher government spending in those countries and all else remains unchanged. Use the loanable funds theory to identify whether supply and/or demand changes in the non-warring countries.
“Good pricing starts with an understanding of how customers’ perceptions of value affect the prices they are willing to pay.” (Kotler and Armstrong, 2013, p. 302) In the case of Virgin Galactic, the price is clearly set to cater to the millionaires a..
Using the Solow growth model with no technology growth and no population growth, write the fundamental equation of capital accumulation per capita and plot the time series for capital per capita, output per capita and consumption per capita when ther..
Kelson Electronics, a manufacturer of VCRs, estimates the following relation between its marginal cost of production and monthly output: MC = $150 + 0.005Q. What does this function imply about the effect of the law of diminishing returns on Kelson's ..
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