A couple is considering moving to Tokyo from New York. Casey's cost of moving is S60,000, and Ashley's cost of moving is $90,000. Their moving costs are high since they must learn a new language. The present value of Casey's lifetime camings is $500,000 in New York, and $550,000 in Tokyo (after converting earnings from yen into dollars). The present value of Ashley's lifetime earnings is $200,000 in New York, and $1,000,000 in Tokyo. Assume they make decisions as a collective housechold where each member's earnings are weighted equally. Will they move as a couple? Is one of them a tied mover or a tied stayer?

A couple is considering moving to Tokyo from New York. Casey's cost of moving is S60,000, and Ashley's cost of moving is $90,000. Their moving costs are high since they must learn a new language. The present value of Casey's lifetime camings is $500,000 in New York, and $550,000 in Tokyo (after converting earnings from yen into dollars). The present value of Ashley's lifetime earnings is $200,000 in New York, and $1,000,000 in Tokyo. Assume they make decisions as a collective housechold where each member's earnings are weighted equally. Will they move as a couple? Is one of them a tied mover or a tied stayer?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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