In the standard human capital model, the optimal schooling level is the amount a schooling at which the marginal rate of return from schooling equals the discount rate. O the marginal gain from an additional year of schooling equals zero. O the marginal rate of return from schooling equals zero. O the present value of net lifetime earnings equals zero.

In the standard human capital model, the optimal schooling level is the amount a schooling at which the marginal rate of return from schooling equals the discount rate. O the marginal gain from an additional year of schooling equals zero. O the marginal rate of return from schooling equals zero. O the present value of net lifetime earnings equals zero.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

11. Economics: Labor Economics Thank you for your help and support Academic Agent!
2. Indicate whether the following statement(s) applies to microeconomics (Micro) or macroeconomics (Macro): a) A U.S. automobile manufacturing firm announced to hire 500 workers last month. (. b) The unemployment rate in the United States was 13.3 percent in March 2020. c) In 2011 an unexpected late spring frost after planting in southwestern Minnesota incurred additional costs to farmers as they replanted, although replanting payments are covered by insurance. (
Please Answer My question Mathematics Economics.... Because I Know The Tutor Can Answer 3 Sub Parts... Please Answer My Question 1 A,B,C
Question 9
Need help with macroeconomic my little choice review question 26. Suppose that a University’s tuition is $7,000. The cost of textbooks is $1,000, and the cost of food & housing is $19,000. If you did not go to the University, you would have worked as a server, making $50,000 per year.What is your opportunity cost of attending The University?(A) $27,000. (B) $77,000. (C) $58,000. (D) $50,000. 27. Wakanda has a GDP of $720 trillion and a population of 6 million. What is Wakanda’s GDP per capita?(A) $120,000,000.(B) $720,000,000,000,000. (C) $100,000,000,000. (D) $833,333,333.
Show full answers and steps to part a) b) & c)
QUESTION 18 Use the information provided in Table 7.2 below to answer the question(s) that follow. Table 7.2 Inputs Required to Produce a Product Using Alternative Technologies Technology Units of Capital Number of Employees 16 8 12 8 6 ABCD 6222 12 20 24 Refer to Table 7.2. Which technology is the most labor intensive? A
40.) What was one negative consequence of the development of factories? a. People migrated to cities for factory jobs b. the first textile factory was built in England c. Diseases spread quickly through cramped factory neighborhoods
NAME SECTION# PRINT LAST NAME, FIRST NAME In the circular flow model, the household sector goods and services in 8. markets. demands; product supplies; product demands; resource a. b. Appendix: C. d. supplies; resource Economics relies on mathematical students to apply their knowledge of arith graphing functions, and some geometry and analyze relationships between varis In the circular flow model, the business sector the factors of production (inputs) 9. in markets. demands; product supplies; product demands; resource supplies; resource a. Most of the mathematical calc subtraction, multiplication, or divisic (quantities). Students are often encc calculations. It may be necessary te example, to calculate average tota is equal to total cost divided by th produce 50 units of output, then Some students regard these rela the student's background and numbers and have difficulty k helpful. b. C. d. In the circular flow model, firms in the business sector product markets and demand; demand…
Microeconomics
3. Understanding the least-cost rule Alex runs a surfing school on the North Shore of Oahu. He has two inputs: surfboards, which he rents from a local shop for $10 per day, and surfing instructors, whom he hires for $50 per day. Alex has figured out that the marginal physical product (MPP) of the last instructor hired is 15 lessons, and the MPP of the last board used is 2 lessons. Which of the following statements is correct? a. Alex could lower his costs without reducing his output if he employed fewer instructors and used more surfboards. b. Any of these answers may be right, depending on the price of a lesson. c. Alex currently employs a cost-minimizing combination of surfboards and instructors. d. Alex could lower his costs without reducing his output if he employed more instructors and used fewer surfboards.
Question 4 There is now also another country, Foreign, there is a labor force of 800. Foreign's unit labor requirement in watermelon production is 5, while in kiwi production it is 1. a) how many units of watermelon can be produced? when the labor in Foreign country only produce watermelon. b) how many units of kiwi can be produced? When all the labor in Foreign country only produce kiwi. c) What is the opportunity cost of watermelon in terms of kiwi in Foreign country? d) Describe the pattern of trade. Home country should produce? Foreign country should produce? Why? e) Show that how both Home and Foreign country gain from trade.