Bundle: Microeconomic Theory: Basic Principles and Extensions, 12th + MindTap Economics, 1 term (6 months) Printed Access Card
12th Edition
ISBN: 9781337198202
Author: NICHOLSON, Walter, Snyder, Christopher M.
Publisher: Cengage Learning
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Question
Chapter 8, Problem 8.10P
a
To determine
To find:
Conditions for pooling equilibrium for NE
b)
To determine
To find:
Conditions for pooling equilibrium for not choosing NE.
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Double Trouble and Career Choices
It is Sunday afternoon, and you’re attending your twin nephews’ high school graduation party. Your sister, the mom of the twins, brings you a piece of cake and starts venting about the twins, exclaiming, “Could you believe those guys? Jamal wants to go to school to become a musician while Khalil wants to join the National Guard! Like, why don't they do what normal kids do, like attend medical school or business school or become teachers or something so they can land on a good paying job? I don’t get them. They are so irrational, aren’t they?”
Then, your sister looked at you and posed the following questions.
"Please tell me:
Who is more rational in their choice, Jamal or Khalil?
Why do you think they made the career choice they did?
Why didn’t they choose the same fields of study as their friends, like medicine, education, business, or aviation?"
Double Trouble and Career Choices
It is Sunday afternoon, and you’re attending your twin nephews’ high school graduation party. Your sister, the mom of the twins, brings you a piece of cake and starts venting about the twins, exclaiming, “Could you believe those guys? Jamal wants to go to school to become a musician while Khalil wants to join the National Guard! Like, why don't they do what normal kids do, like attend medical school or business school or become teachers or something so they can land on a good paying job? I don’t get them. They are so irrational, aren’t they?”
Then, your sister looked at you and posed the following questions.
"Please tell me:
Who is more rational in their choice, Jamal or Khalil?
Why do you think they made the career choice they did?
Why didn’t they choose the same fields of study as their friends, like medicine, education, business, or aviation?"
Chapter 8 Solutions
Bundle: Microeconomic Theory: Basic Principles and Extensions, 12th + MindTap Economics, 1 term (6 months) Printed Access Card
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