Will ralph increase or decrease the number of hours

Assignment Help Business Economics
Reference no: EM13159349

Ralph currently has two jobs. His primary job pays well, $20 per hour, but he can work no more than 40 hours per week at it. In fact, he always chooses to work 40 hours at this job. His secondary job pays only $15 per hour, but he can work as few or as many hours as he wants. Currently he chooses to work 10 hours at his secondary job. For Ralph, leisure is a normal good. If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?

Reference no: EM13159349

Questions Cloud

Most dangerous place in the world : What is the most dangerous place in the world? Why does it have this reputation? How does this situation affect its neighboring states? Be specific and include the effect does the US's involvement have on this situation.
How would you set up a forecasting model : What would happen to the demand curve if the major taxi companies lowered their prices? If you were asked to forecast future demand for this firm, how would you set up a forecasting model?
Effect on the price and quantity of minivans : Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw the diagram to show the effect on t..
Each cycle in an instruction cycle : Suppose each cycle in an instruction cycle takes an average of 5 clock cycles. Determine the number of clock cycles needed to process 10 instructions without and with a pipeline
Will ralph increase or decrease the number of hours : If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?
Notions of karma-samsara and nirvana : Explain and evaluate the notions of Karma, samsara, and Nirvana. Explain and evaluate the Hindu ideas of Brahman, atman and reality.
Faculty and minority : Should members of the administration be called to have as large of a role as faculty members with respect to changing how a campus “feels” toward minority individuals? Please support your answer.
What is the present value of costs under option a : What is the present value of costs under option A? Under option B? Which is the better option? (b)* Given that she is going to stay in business for another seven years, should she be considering other options??
Write the logical expression in postfix notation. : Given symbols p, q, r, and s for propositions. Draw the binary tree representation of the logical expression ((p || r) && ! p ) || s) && (q || r). Write the logical expression in postfix notation.

Reviews

Write a Review

Business Economics Questions & Answers

  What echnopolies are willing to pay

Supposre that there are equal numbers of each customer type, and that the MC of the iphone is $100."

  Competitive industry is comprised of identical firms

a competitive industry is comprised of 15 identical firms, each with a short-run total cost function

  What is the probability of type i error

If a random sample of 400 clients is elected, what is the probability of Type I error using this decision rule.

  Assume to two firms in an industry with an index

Assume to two firms in an industry with an index of 5,000 announce a merger. The U.S. Justice Department concludes the merger will boost the index to 5,500. The antitrust authorities will most likely.

  Marge opens an oxygen bar in a building she owns

Marge opens an oxygen bar in a building she owns. She utilized to rent the building to her brother in law.

  Provisions for strategic decision making

The purposes of assessing the consequences of these provisions for strategic decision making.

  A basic theory of underlying macroeconomic behavior

A basic theory of underlying macroeconomic behavior and therefore useful for making policy predictions. Briefly explain.

  Evaluate the factors which managers must consider

To one side maximizing profits evaluate the factors which managers must consider when making judgment to outsource or integrate forwards/backwards considering which factor would be mainly significant for decision-making.

  How should you now be willing to spend for a appointment

The physician's office charges you a nonrefundable fee of $50 for the missed appointment, which cannot be applied to a future appointment. How much should you now be willing to spend for a new appointment? $50 $120 $0

  Exchange rate between the swiss franc and the dollar

Calculate the purchasing power parity exchange rate between the Swiss franc and the dollar. Based on your calculation, is the SF overvalued or undervalued.

  How price level would necessarily fall

If personal taxes were decreased and input productivity increase simultaneously, the equilibrium: output would rise, fall, price level would necessarily fall, or price level would necessarily rise.

  Why is this firm a natural monopolist

They face a straight market demand curve that runs from $500 on the price axis to 1000 on the quantity axis.How much profit will they make at that quantity? Why is this firm a natural monopolist?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd