Determine whether the marginal benefits or marginal costs curves shift. Show the appropriate shift in the diagram for a, b, and c separately. Then because of the shift in the diagram indicate whether the asking wage increases or decreases, stayed the same or cannot determine. Also determine whether or not the individual would have a longer or shorter duration of unemployment, or whether it stayed the same or cannot determine. MC, MB w* a. Suppose Monica is looking for a job after graduating University and does not have professional clothes to wear on interviews. What happens to MB and MC curves because of the need to buy proper business attire for interviews? b. Suppose Andrew is looking for a job. What happens to MB and MC curves if his parents promise to support him while she searches for work with a $25 a week allowance? c. Suppose Bill is looking for a job on Wall Street. What happens to MB and MC curves if Bill gets certified as a Financial Analyst?

Determine whether the marginal benefits or marginal costs curves shift. Show the appropriate shift in the diagram for a, b, and c separately. Then because of the shift in the diagram indicate whether the asking wage increases or decreases, stayed the same or cannot determine. Also determine whether or not the individual would have a longer or shorter duration of unemployment, or whether it stayed the same or cannot determine. MC, MB w* a. Suppose Monica is looking for a job after graduating University and does not have professional clothes to wear on interviews. What happens to MB and MC curves because of the need to buy proper business attire for interviews? b. Suppose Andrew is looking for a job. What happens to MB and MC curves if his parents promise to support him while she searches for work with a $25 a week allowance? c. Suppose Bill is looking for a job on Wall Street. What happens to MB and MC curves if Bill gets certified as a Financial Analyst?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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