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Briefly explain how each of the following factors affect 17 year old Bob 's decision to go to college: his discount rate, the difference in labor market earnings in each year post-college between what Bob would earn with and without the college degree, tuition and the cost of books, his likely earnings in the next four years if he doesn't go to college, and (e) his anticipated retirement age.
If the product price is $105, at its optimal output will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.
Introduction: It is February andyou have recently been hired as the manager of Mt. Claire Café. You have been asked to improve profitability. Note: Please use Excel for all calculations.
Many television shows, movies, and songs can be downloaded for free on the Internet. Much of this material is copyrighted and was expensive to produce. Much of it is available for a fee through a legitimate site. Should you pay to download an episode..
Show how the following demand curves are likely to shift in response to the indicated changes: a) The effect on the demand curve for umbrellas when rainfall decreases. b) The effect on the demand curve for apple juice when the price of orange juice d..
The efficient Market hypothesis
What happens to the money supply, interest rates, and the economy if the Federal Reserve is a net seller of government bonds? What happens to the money supply
The labor market for NBA players is perfectly competitive. The Labor Supply curve is Q= -20+3w. The marginal expenditure curve is ME= (2Q+20)/3. The Labor Demand curve is Q=125-2w. The Marginal Curve is MR= (125-2Q)/2. Both the players and owners do ..
When the price of oranges is $5 per lb, the quantity demanded is 100 lbs per week. When the price rises to $20 per lb, the quantity demanded falls to 99 lbs per week. Calculate the price elasticity of demand for oranges, and say whether it is elastic..
We also observe that the proportion of workers receiving disability benefits is much lower in the US than in the latter two nations. Are these findings consistent with the work-leisure model.
Firms in monopolistically competitive industries are likely to benefit from economies of scale. State whether you agree or disagree with the above statement.
Consider an exchange economy with two prominent leaders: Romney and Bernanke. Each get utility from destroying jobs, J; and from power, P. What are the market supply functions for power and jobs? What is the income of both, expressed as a function o..
Why is it that unemployment and inflation work in opposite directions--when one is high the other is low and vice versa? This concept is depicted by the Phillips Curve. Why are unemployment and inflation sometimes referred to as twin problems?
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