Actions to someone who is unfamiliar with economics

Assignment Help Business Economics
Reference no: EM13815153

Maria is a hostess at a local restaurant. When she earned $8 per hour, she worked 35 hours per week. When her wage increased to $10 per hour, she decided to work 40 hours. However, when her wage increased again to $12 per hour, she decided to cut back to 37 hours per week. Draw Maria's supply curve. How would you explain her actions to someone who is unfamiliar with economics?

Reference no: EM13815153

Questions Cloud

Differences in between securitization and selling used cars : "Loans are just like used cars. If you see an ad in the paper for a used car, you have to wonder, why is the owner selling it? Maybe there is something wrong with the care that is hard to see. As a result, when you approach the seller, you will want ..
How transparent should an organization be : What about media, watchdog groups, and governmental regulators?) and how transparent should an organization be if it wants to be viewed as ethically grounded and socially responsible?
What are the characteristics of the program : Select a prison special offender population and research a program aimed to assist or care for that population. What are the characteristics of the program? How has the program affected the special offender population in that prison
Exchange rate with the dollar constant : The Chinese have at times held the yuan (the Chinese currency also called a renminbi, {pronounced "RNB" which is slang like a buck or clams for US currency}) exchange rate with the dollar constant. This fixed exchange rate has caused the United State..
Actions to someone who is unfamiliar with economics : Maria is a hostess at a local restaurant. When she earned $8 per hour, she worked 35 hours per week. When her wage increased to $10 per hour, she decided to work 40 hours. However, when her wage increased again to $12 per hour, she decided to cut bac..
Write a direct and concise thesis statement : Write a direct and concise thesis statement, which will become the point or perspective you will argue or prove in the Final Research Project.
What is net present value of investment-What was that worth : ESPN currently pays the NFL $1.1 billion per year for eight years for the right to exclusively televise Monday Night Football. What is the net present value of this investment if the parent Disney Company has an opportunity interest rate equal to its..
What contributed to rise of your royal state : What contributed to rise of your royal state and how did your monarch justify his/her power? How did you and your fellow countrymen participate or react to these changes and why?
The value of the study in relation to social psychology : The value of the study in relation to social psychology

Reviews

Write a Review

Business Economics Questions & Answers

  Determine the most economical plan for initial railroad ties

A railroad branch line to a missile site is to be constructed. It is expected that the railroad line will be used for 15 years, after which the missile site will be removed and the land turned back to agricultural use. The railroad track and ties wil..

  What is your certainty equivalent for these two projects

If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?

  Information technology was primarily concerned

In the 1970s, information technology was primarily concerned with _______, while today information technology is the focus.

  In converting the residual to a student zed

In converting the residual to a student zed (standardized) residual for a given observation, the residual for the observation is divided by the residual's __________.

  Solve for equilibrium yearly quantity and price of liquor

Assume the annual demand for liquor in Mississippi. The supply of liquor is given by the equation Qs= 30,000P. Solve for the equilibrium annual quantity and price of liquor.

  New supplemental drug application

Drugs, Inc. recently received approval from the Food and Drug Administration for its new supplemental drug application for a 300-milligram tablet of an antiplatelet treatment. The company invested $170 thousand in the research and development fund fo..

  Why is government intervention needed for our economy to run

Why Is government intervention needed for our economy to run well. If Xavier keeps the tutor until his grade actually begins to fall, his marginal utility will be.

  Based on the cost curves which is more likely in businesses

What is the difference between an economic profit and an accounting profit, give an example? 3. Discuss the difference between diseconomies of scale and diminishing returns. Based on the cost curves which is more likely in businesses?

  Most serious disadvantage of globalization

Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation

  Decreases as output increases-vertically integrated firm

Which of the following always decreases as output increases? The Southern Tree Trimming Corporation reported an accounting profit of $35,000 and a normal rate of return of 15 percent on capital and enterprise of $30,000. The opportunity cost of labor..

  Elucidate the social gain from the market for cars

elucidate the social gain from the market for cars. Be sure to show gains and losses to all relevant groups of Americans.

  Calculate the present worth

You are in the process of deciding to buy a car. You found a brand new Hyundai Elantra for $22,000. You read the reviews and they all sound good. You plan to keep it for 5 years. You do some rough calculations on the amount of expenses which includes..

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