What are the explicit and implicit cost of attending college

Assignment Help Macroeconomics
Reference no: EM13233520

1. Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college? Why does the economist classify normal profit as a cost? Is economic profit a cost of production?

2. What is a sunk cost? Provide an example of a sunk cost other than one found in the text. Why are such costs irrelevant in making decisions about future actions?

Reference no: EM13233520

Questions Cloud

Discuss each of the figures given in the exercise : Discuss each of the figures given in the exercise with regard to its relevance in the departmentclosing decision.
Write the code to compute s on the basis of these values : n physics, a common useful equation for finding the position s of a body in linear motion at a given time t, based on its initial position s0, initial velocity v0, and rate of acceleration a, is the following: s = s0 + v0 t + ½ at2
Determine the value of fz : A force F = 200i - 400j + FZ k N, is acting through point A(0,0,0) m. If F creates a moment component of -3000 Nm in the direction of a line passing from point B (2,4,5) m to point C(-3,6,8) m
Draw structure for cholesterol & mark all chiral carbons : draw structure for cholesterol & mark all chiral carbons. what functional groups are present in cholesterol? (& yes I tried googling it, so far I have alcohol, hydroxyl, steroid nucleus, and hydrocarbon tail)
What are the explicit and implicit cost of attending college : Distinguish between explicit and implicit costs, giving examples of each. What are the explicit and implicit costs of attending college Why does the economist classify normal profit as a cost Is economic profit a cost of production
Why would they remain the same : Are the following objective functions for an LP model equivalent? That is, if they are both used, one at a time, to solve a problem with exactly the same constraints, will the optimal values of X1 and X2 be the same in both cases? Why or why not?
Explain in detail how liberalism-nationalism and militarism : Explain in detail how Liberalism, Nationalism and Militarism shaped the course of European history. Provide at least two examples of how each force influenced the period of European history since the French revolution.
Why companies have not moved in significant numbers : However, it seems that, up to the present time, the relational model continues as the most prominently used database management tool. Any thoughts about why companies have not moved in significant numbers toward new database models?
Define the normal force frictional force and net work : A 15kg crate is moved along a horizontal floor by pulling on it with a rope that makes a 30 degree angle with the horizontal, How much work is done by the normal force and frictional force, What is the net work

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  What is the aw if your marr is 14%

Lockheed Martin management is considering your proposal to purchase a new water jet machine for cutting 14 gauge aluminum sheets into C-130 fuselage parts. This is a much cleaner method than the current method of using an oxyacetylene cutting torc..

  Calculate appropriate percents to describe the results

c) Summarize your findings in a short paragraph d) Test the null hypothesis that there is no association between gender and lying to teachers. Give the test statistic, the P-value and summarize your conclusion. Be sure to include numerical and gra..

  National income accounting and canadian economy

In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?

  Federal government would help to your organization

Illustrate what would you like to see done by the Federal government which would be of help to your organization

  Equilibrium of the dad-das model

Explain the effect of such a shock on the equilibrium of the DAD-DAS model - Suppose that at time t-1 inflation is zero and there were no shocks in the economy.

  What is the cyclical rate of unemployment

suppose that in a given period, 9% of the unemployed people will find jobs and 3% of employed people will lose their jobs. In the U.S, unemployment is at 8.1%, 1% of employed people will lose their job, and 19% of unemployed will find jobs.

  Determine the incentives to produce and price the product

What is the difference between a traditional monopoly and a natural monopoly. Include the following points Identify the incentives to produce and price the product for a traditional monopoly and natural monopoly.

  Most cyclical component of aggregate expenditures

The stronger the US dollar is relative to the rest of the world, all else constant, the larger the net exports in the US and Consumption is positively related to stock market wealth but negatively related to taxes and tax rates.

  What is the maximum probability of last thing

The question is what is the maximum probability of last thing happening (-$10 million) that will induce the person to vote for action.

  Elucidate the dispute resolution options available

Elucidate the dispute resolution options available to Bobbie Sue and Suzy Q and the primary differences between each option.

  Diminishing marginal utility with rational behaviour

All economics textbooks give examples that show diminishing marginal utility as consumption rises-However, it could be argued that a rational buyer should never experience negative marginal utility. Why?

  Explain a stackelberg game with three firms

Consider a Stackelberg game with three firms (1, 2 and 3) where firm 1 moves first and firm 3 moves last. What quantities will they choose if they have zero costs and the demand curve is p = 100 - q

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