Homework Answers
Answer
Option 3
the benefit of leaving was greater than the marginal cost
the salary is increased by 45% so the marginal benefit of leaving is greater than the marginal cost and it is arational decision.
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Imagine that your economics professor has been offered a job as an economic adviser for the...
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1. Economics can best be defined as the study of how a. Society decides to use its scarce resources in an attempt to satisfy unlimited wants b. The government should deal with the problems of unemployment and inflation C. To make money in the stock market d. The government should eliminate the problem of scarce resources 2. What you give up to obtain an item is called your a. True cost b. explicit cost c. opportunity cost d. direct cost...
4. Professor Wendy Smith has been offered the following opportunity: A law firm would like to...
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score A student in a principles of economics course makes the following remark "The economic model...
score A student in a principles of economics course makes the following remark "The economic model of perfectly competitive markets is fine in theory but not very reas predicts that in the long run, a firm in a perfectly competitive market will eam no profits. No firm in the real world would stay in business if it earned zero profits Is this remark correct or incorrect? Iscore O A The remarks incorrect because the students confused accounting profit and economic...
Professor Wendy Smith has been offered the following opportunity: A law firm would like to retain...
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Please help with these questions Question 16 0.4 pts Laura leaves her job as an accountant,...
Please help with these questions
Question 16 0.4 pts Laura leaves her job as an accountant, where she earns $80,000 per year, to start her own business. After the first year, her business earns a profit of $60,000. How would an economist describe the profitability of Laura's career change? O Laura had a profit of $140,000. O Laura had a loss of $20,000. O Laura had a profit of $60,000. Laura had a loss of $80,000. O Laura had a...
Which of the following has been used by the U.S. government to limit pollution? Regulations that...
Which of the following has been used by the U.S. government to limit pollution? Regulations that limit the emissions of certain pollutants in the air and water. OEstablishment of an emissions rights system, or tradable pollution rights. OImposition of taxes to encourage reduced consumption of goods that lead to higher pollution (for ex., cars) All of the approaches have been used by the U.S. government in addressing the problem of pollution. Consider the market for wheat which is perfectly competitive....
please help! 2. Analyzing occupancy rates Bill, an economics student, says, "This articie makes no economic sense. It quotes someone as saying that the price of apartments will go up if jo...
please help!
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Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
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1. Economics can best be defined as the study of how a. Society decides to use its scarce resources in an attempt to satisfy unlimited wants b. The government should deal with the problems of unemployment and inflation C. To make money in the stock market d. The government should eliminate the problem of scarce resources 2. What you give up to obtain an item is called your a. True cost b. explicit cost c. opportunity cost d. direct cost...
4. Professor Wendy Smith has been offered the following opportunity: A law firm would like to retain her for an upfront payment of $49,000. In return, for the next year the firm would have access to eight hours of her time every month. As an alternative payment arrangement, the firm would pay Professor Smith's hourly rate for the eight hours each month. Smith's rate is $540 per hour and her opportunity cost of capital is 15% per year. What does...
score A student in a principles of economics course makes the following remark "The economic model of perfectly competitive markets is fine in theory but not very reas predicts that in the long run, a firm in a perfectly competitive market will eam no profits. No firm in the real world would stay in business if it earned zero profits Is this remark correct or incorrect? Iscore O A The remarks incorrect because the students confused accounting profit and economic...
Please help with these questions
Question 16 0.4 pts Laura leaves her job as an accountant, where she earns $80,000 per year, to start her own business. After the first year, her business earns a profit of $60,000. How would an economist describe the profitability of Laura's career change? O Laura had a profit of $140,000. O Laura had a loss of $20,000. O Laura had a profit of $60,000. Laura had a loss of $80,000. O Laura had a...
Which of the following has been used by the U.S. government to limit pollution? Regulations that limit the emissions of certain pollutants in the air and water. OEstablishment of an emissions rights system, or tradable pollution rights. OImposition of taxes to encourage reduced consumption of goods that lead to higher pollution (for ex., cars) All of the approaches have been used by the U.S. government in addressing the problem of pollution. Consider the market for wheat which is perfectly competitive....
please help!
2. Analyzing occupancy rates Bill, an economics student, says, "This articie makes no economic sense. It quotes someone as saying that the price of apartments will go up if jobs pick up in Santa Clara. But 5% of the apartments are sitting empty. Prices should go down when there is a surplus like this one." Sara, the graduate teaching assistant for Bil's section, tries to explain to him why he might be wrong. (You have to answer her...
Amanda and Bartholomew, a lovely couple with degrees in medicine, own and operate a demonology clinic. The clinic is open for business Monday through Friday from 8:00 a.m. to 5:00 p.m. The thing is, many of their patients work for the government or the private sector and they have to take sick leaves to see the doctors during those days. Since most people do not work in weekends, Amanda and Bartholomew think they could attract many more patients if they...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
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