paper, Macroeconomics

Assignment Help:
Ask Jenny, your niece, is a smart high-school student who wants to make smart choices for her future. Hearing of your course in Business Economics, she has emailed you asking for advice on whether to become a medical doctor and on the best location to practice it. She recognizes the high costs of tuition and the years of study involved in becoming a doctor. She wants to evaluate if that career choice is an optimum decision for her. So she has asked you for advice.

Having read the introduction to Chapter 1 on page 3 of the textbook, you recognize the significance of such a career decision for Jenny. You decide to examine the career choice in terms of the utility it provides to Jenny: return on investment as well as personal satisfaction of contributing to the well-being of others. But to evaluate the utility, you also need to identify and quantify the total opportunity costs of the decision. You decide to educate yourself about the market for physicians in terms of supply and demand, elasticity, costs of production, pricing, and normal profit. You want to provide Jenny with the most informed advice possible.

question #Minimum 100 words accepted#

Related Discussions:- paper

International trade, How can achieve mutual gain from international trade?

How can achieve mutual gain from international trade?

Planning activities, What are the different stages of analysis in planning ...

What are the different stages of analysis in planning activities?

Grocery store manager, A grocery store manager would like to have an idea c...

A grocery store manager would like to have an idea concerning the average amount milk the store sells per day. In a sample of 70 days, the average amount number of gallons sold was

Expected cost of building the boat, Half the members of a fishing tribe cat...

Half the members of a fishing tribe catch four fish per day and half catch 10 fish per day. A group of 10 members could build a boat for another tribe in one day and receive a paym

Issctes related to balance of payments, ISSUES RELATED TO BALANCE OF PAYMEN...

ISSUES RELATED TO BALANCE OF PAYMENTS: It  is to be remembered that the Indian economy witnessed varying intensities of BOP problem during 1956-9  1.  However over the 1990s,

GDP, Whenever real GDP declines, nominal GDP must also declin

Whenever real GDP declines, nominal GDP must also decline

Reaganomics, Reaganomics Supply-side economics or New Classical Econom...

Reaganomics Supply-side economics or New Classical Economics has gained distinct prominence in the early 1980s with the election in the U.S.A of a conservative government unde

Determinants of money supply, Determinants of Money Supply The precedi...

Determinants of Money Supply The preceding sections concentrate on the processes through which the commercial banking system creates and destroys deposits by purchasing and se

What are the production elasticities of demand, The following Cobb-Douglas ...

The following Cobb-Douglas production function is used to describe the output generated by a local government maintenance agency. Q = αL β1 K β2 E β3 Where L represents numb

Write Your Message!

Captcha
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