7. Utility maximization question Ross Geller is an archeologist who works for a museum, and he has preferences over leisure and consumption such that his utility U=f(C,L)=C¹/3L1/2. He earns $15/hr and has stock dividends that bring in $40/day. If T-24 hours, what is the optimal amount of leisure that Ross should use each day, L*? a. 16 hours b. 8 hours c. 12 hours d. 24 hours 8. Now imagine that Ross gets a raise to $37.50/hr, but otherwise nothing has changed. What is his new choice of leisure, L**? a. 5 hours b. 10 hours c. 15 hours d. 20 hours I 9. Using your answers to #7 and #8, what is Ross Geller's elasticity of labor supplied? That is, what is: (%ALabor) / (%Awage) a. 0.5 b. 1 c. 1.5 d. 2

Why do you need to learn engineering economy?

What Is Developing a Performance Measurement and EvaluationSystem?

4-5 Processing Insurance Claims Your insurance firm processes claims through its newer, larger, high-tech facility and its older, smaller, low-tech facility. Each month, the high-tech facility handles 10,000 claims, incurs $100,000 in fixed costs and $100,000 in variable costs. Each month, the low-tech facility handles 2,000 claims, incurs $16,000 in fixed costs and $24,000 in variable costs. If you anticipate a decrease in the number of claims, where will you lay off workers?

What is the AW of the outside treatment

In what way do you think can we realize our income and control our cost, following the procurement process or procedure.   What is an A/R? What are recorded in this document? is it part of the check in and check out process of guests in a hotel?

MARC record for The Boat published by Alfred A. Knoph New York 1975

Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate:   Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $

Using ordinal numbers in directions should be explained 0 avoided bо recommended CO forced

How do ypu think your unique environment and experiences have contributed to some of the differences you see