What is the breakeven level of hour of work

Assignment Help Econometrics
Reference no: EM13208685

Assume that a welfare program pays $100 per week if a person does not work and reduces the welfare benefit dollar for dollar with earnings. Assume that the individuals does not have any other nonwage income. ALso assume the individual has a market wage of $5/hour. Assume maximum of 120 hours of leisure per week (T=120/week)?

What is the break-even level of earnings under the program? What is the breakeven level of hour of work under the program?

the equation I have is S=B-tY, where B=basic benefit, t=benefit reduction rate, Y level of earned income?

Reference no: EM13208685

Questions Cloud

Why might the increase in quantity demanded : a) Draw this demand curve, labeling the values of the y- and x-intercepts. b) Show how his demand curve and values of the y- and x-intercepts change if he obtains health insurance with no deductible and a 20% coinsurance rate.
Show what happens to the market for smartphones : two accompanying show supply an demand curves for two substitute commodities: regular cell phone and smartphones. A. Show what happens when rising raw material prices make it costlier to produce regular cell phones
Explain a section of membrane with an aquaporin : A section of membrane with an aquaporin (AQP) has a water transport rate of about 3 billion water molecules per second (3 × 109 molecules·s-1).
What is a typical indifference curve for the case : What is a typical indifference curve for the case in which the marginal utilities of both goods are positive and the marginal rate of  substitution of hamburgers for Cokes is diminishing. Explain the relationship between the indifference curve
What is the breakeven level of hour of work : Assume that a welfare program pays $100 per week if a person does not work and reduces the welfare benefit dollar for dollar with earnings. Assume that the individuals does not have any other nonwage income.
Rational for wealth maximization as a goal for a firm : What is the rational for wealth maximization as a goal for a firm and what are the key financial statements and why they are important?
What affect will fashion craze have on demand for watches : A popular magazine reports that wrist watches are becoming the highest fashion craze. What affect will this have on the demand for watches, and what will happen to the price and quantity of watches sold on the market
Explain chief cells and mucous-secreting cells : Gastric juice is made up of substances secreted from parietal cells, chief cells, and mucous-secreting cells. The cells secrete HCl, proteolytic enzyme zymogens, mucin, and intrinsic factor
Write a c program that determines if the input is a prime : write a C program that determines if the input is a prime guassian number or not. if it is, the output should print the number entered and say this is a prime number. If it is not, then the output should print the factor of the number entered and ..

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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