Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
One way of estimating the impact of another year of education on individual’s earnings would be to survey individuals about their level of education and earnings and then estimate the following equation
Log Earnings= a + bEducation + e
Where e is an error term that you do not need to worry about.
a) What do labor economists call b? Provide a one sentence definition.
b) What is the magnitude of a typical estimate of b?
c) Economists have found that it is difficult to get a meaningful estimate of b. Why is this task so difficult? Provide 3 reasons.
Some economists have tried to get a better estimate of b by looking at the earnings and education levels of men who graduated from high school during the Vietnam draft era. Describe the “experiment” that economists have used in this context. Why might it be better than estimates of b obtained above? What is one concern about estimates of b that are generated by this “experiment?”
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
q.let the inverse demand curve be d q 56 - 2q q q1 q2. costs for each firm are a constant variable cost of 2 a unit
Illustrate what fiscal and monetary policies would you recommend in order to close a recessionary gap. Would you recommend what expansionary polices.
Assume that two power plants, Firm 1 and Firm 2, release arsenic in a small urban community that exceeds the emissions standard. To meet the standard, 40 units of SO2 must be abated in total. Prove that a uniform standard will not meet the cost-effec..
Let Y represent income and L represent hours of leisure. Mike's utility for income and leisure is U(Y,L) = Y x L so that marginal utility of leisure = Y and the marginal utility of income = L. Total hours available for leisure and work in any given w..
Economists assume that consumers attempt to maximize their utility based upon their preferences, income and price of commodities. do you see any weakness of the above are you aware of any example of irrational behavior by consumers(or yourself )?
Illustrate what variables or than cost appears or have biggest impact on demand for McDonald's products. How much influence does company have over se variables.
Solve for the amount imported, consumer surplus, and producer surplus. Suppose a per unit tariff of $64 is imposed by the government. Solve for the consumer surplus, producer surplus, government revenue and total surplus with the tariff.
Consider a group of 10 friends who are considering going on a road trip. In determining whether or not to go, each friend considers both how much they would enjoy the trip and how much it will cost them. The cost of the trip will be $500 total, and w..
Discuss whether or not oligopolies are always bad for society, using examples from the industries you described.
Discuss two distinct ethical issues that you will need to understand and respect as your business expands into your selected country.
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd