The wage-schooling locus for someone for whom returns

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Q1. a. Draw the wage-schooling locus for someone for whom returns to schooling decrease through college but increase after college (college is completed after 16 years of schooling also one can only receive 6 years of post-college schooling).

b. On a new graph, plot the marginal rate of return to schooling implied by the wage-schooling locus described in part a.

Q2. Dash airlines are considering the addition of a flight from Red Cloud to David City. The total cost of the flight would be $1,100, of which $800 are fixed costs already incurred. Expected revenues from the flight are $600. DASH should:

Reference no: EM1320381

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