For each additional 1 kilometer of distance between work and home, commute expense increases by $10...
- For each additional 1 kilometer of distance between work and home, commute expense increases by $10 and commute time increases by 3 hours. The opportunity cost of commuting time is $20 per hour. If at x = 10, housing consumption is h(10) = 200, the slope of the housing price curve is − $[____].
Homework Answers
Slope of housing price curve = -$70
Reason: It is the effect on price as the distance between work and home increases by 1 km
That equals : $10 + (3*20) = $70
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For each additional 1 kilometer of distance between work and
home, commute expense increases by $10...
1. Refer to the Class Commute Data, and let the independent variable Distance (between home and s...
1. Refer to the Class Commute Data, and let the independent variable Distance (between home and school) and the dependent variable Leave (one-way commute time to school). Using matrix method and the selected variables from the Class Data, obtain the following for an OLS simple linear regression model: Matrices Y, X and ß a. ons developed by the method of least squares c. Get B from (b), and write the fitted regression line. Return Home Leave Home to From Schoo...
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Billie is a trying to manage her time between studying economics and working. Suppose she has...
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Each certified instructor puts in 480 hours per quarter regular time and can work an additional 1...
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The indifference curves in the figure below illustrate Alice's preferences over weekly leisure I and weekly...
The indifference curves in the figure below illustrate Alice's
preferences over weekly leisure I and weekly consumption c. Alice
has 100 hours each week to allocate between work and leisure
activities. If Alice works, she has no nonlabor income, but she
earns $10 per hour. (The price of consumption is $1 per unit.) If
she doesn't work, she receives government aid in the form of a $400
weekly cash grant.
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hiii please help me $200 each $5,000 $150 each $4,000 $100 each $1 each bike Let...
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Billie is a trying to manage her time between studying economics and working. Suppose she has 10 hours available each week to either study or work. She makes $12 each hour babysitting local kids in her neighborhood, and each hour of studying increases her grade by 10% (in other words, if she does not study, she gets 0%, if she uses all of her time to study, she gets 100%). 1) Billie knows she needs at least a 70% to...
Each certified instructor puts in 480 hours per quarter regular time and can work an additional 120 hours overtime. Regular-time wages and benefits cost Carlton $7,200 per employee per quarter for regular time worked up to 480 hours, with an overtime cost of $20 per hour. Unused regular time for certified instructors is paid at $15 per hour. There is no cost for unused overtime capacity The cost of hiring, training, and certifying a new employee is $10,000. Layoff costs...
The indifference curves in the figure below illustrate Alice's
preferences over weekly leisure I and weekly consumption c. Alice
has 100 hours each week to allocate between work and leisure
activities. If Alice works, she has no nonlabor income, but she
earns $10 per hour. (The price of consumption is $1 per unit.) If
she doesn't work, she receives government aid in the form of a $400
weekly cash grant.
Which indifference curve do we use to determine Alice's
reservation...
hiii please help me
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