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Suppose the decision to acquire schooling depends on three factors- preferences (joy of learning), costs (monetary and physic), and individual-specific returns to education. a. Explain how each of these factors affects one’s optimal amount of schooling. b. Using these three factors, explain why someone who faces a very steep wage schooling locus may still opt to obtain very little schooling. c. Consider two groups of people- Alphas and Betas. The cost of schooling is the same for each. The average level of schooling and salary for Alpha types is 15 years and $120,000, while the average level of schooling and salary for Beta type is 13 years and $100,000. Why is it that 10%, which is calculated as ($120,000-$100,000)/(15-13), is not a good estimate of the annual return to an additional year of education? d. Suppose you know that the actual annual rate of return on a year of education is 5% for both types. Given the numbers in par (c), which type (Alphas or Betas) most likely receives more pure enjoyment from education?
Involuntary unemployment at this wage. If so, how much. Illustrate with a diagram. What if minimum wage is set at 40,000.
Momentum treatise to the current world population growth crisis.
Construction-based business of your choice and explain stakeholder theory to illustrate the primary interests of the stakeholder groups and identify any areas of potential conflict between the stakeholder groups.
Describe nominal GDP and real GDP in year four using the following information: in year one, the base year, 10 computers sold at $2000 each, and 15 televisions sold at $500 each.
Illustrate what is the marginal cost of a string. Calculate marginal revenue and marginal cost for each quantity.
You complain that the current labor contract specifies a full hour for your lunch break and you still have over 15 minutes left.
What asymetric Information can contribute to the onset of both a currency and financial crisis.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
Discuss in detail, the impact that currency movements are having on the economic data that you are collecting in Part A.
Illustrate what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the cost from being regulated at the socially optimal level.
Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the marketplace.
Make sure to make available examples of real world to strengthen your position of wherever this might be case
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