pTork teaches guitar lessons in the guitar store, where he makes $32,000 per ESrear (which we can think of being paid out at the end of each year). He coul neasily repurpose his skills to become a music teacher in the public schools, but doing so would require him to get a master's degree. Starting a master's program today would cost $24,000 immediately and $24,000 one year from now in tuition, and takes two full years to complete. If Tork gets his degree, he'll work in the public schools for 30 years thereafter and get $41,000 per year (paid at the end of the year). Otherwise, Tork will stay at his current jo for the next 32 years. Should Tork get his master's? You may evaļuate the

pTork teaches guitar lessons in the guitar store, where he makes $32,000 per ESrear (which we can think of being paid out at the end of each year). He coul neasily repurpose his skills to become a music teacher in the public schools, but doing so would require him to get a master's degree. Starting a master's program today would cost $24,000 immediately and $24,000 one year from now in tuition, and takes two full years to complete. If Tork gets his degree, he'll work in the public schools for 30 years thereafter and get $41,000 per year (paid at the end of the year). Otherwise, Tork will stay at his current jo for the next 32 years. Should Tork get his master's? You may evaļuate the

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.6P

See similar textbooks

Similar questions

Automobile repair shops typically recom- mend that their customers change their oil and oil filter every 4,000 miles. Your automobile user's manual suggests changing your oil every 6,500–8,500 miles. If drive you your car 52,000 miles each year and an oil and filter change costs $31, how much money would you save each year if you had this service performed every 6,500 miles?
Store Local Shoe Store Different Neighborhood in Town Rural Outlet Travel Time Each Way (Minutes) 15 30 60 Store Local Shoe Store Price of a Boots (Dollars per boots) 114 95 Juanita earns an hourly wage of $16 at her job. In order to purchase her boots she will have to take time off work, so each hour away from her job costs her $16 in lost income. Assume that Juanita's travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Juanita incurs no additional costs other than the boots, such as gas. Different Neighborhood in Town Rural Outlet 74 Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time (Dollars) Price of a Boots (Dollars per boots) 114 95 74 Total Cost (Dollars) Assume that Juanita considers both her opportunity costs and the price of boots when making her…
uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →
Homework (Ch 01) Store Local Shoe Store Different Neighborhood in Town Rural Outlet Travel Time Each Way (Minutes) 15 30 60 Price of a Boots (Dollars per boots) 115 98 75 Juanita earns an hourly wage of $20 at her job. In order to purchase her boots she will have to take time off work, so each hour away from her job costs her $20 in lost income. Assume that Juanita's travel time is the same each way (to and from the store) and that it will take her 30 minutes once she reaches a store to complete her shopping. Assume throughout the question that Juanita incurs no additional costs other than the boots, such as gas. Store Local Shoe Store Different Neighborhood in Town Rural Outlet Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location." Opportunity Cost of Time (Dollars) Price of a Boots (Dollars per boots) 115 Total Cost (Dollars) 98 75 Assume that Juanita considers both her opportunity costs and the price of…
METHODS RESEARCH PLEASE DO IN MS WORD
Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out- of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. Please enter your answers as whole numbers with no decimal places (ie. 5000 or $5000 not 5000.00 or "Five thousand dollars"). If you want to enter a negative number use a negative sign "-" and do not use parenthesis (ie. -2000 or -$2000 not (2000) or (-$2000)). What is Pat's accounting profit? What is Pat's economic profit? Did Pat make the right decision by becoming a personal trainer? (Yes or No)
A producer of synthetic motor oil for automobiles and light trucks has made the following statement: “One quart of Dynolube added to your next oil change will increase fuel mileage by one percent. This one-time additive will improve your fuel mileage over 50,000 miles of driving.” Solve, a. Assume the company’s claim is correct. How much money will be saved by adding one quart of Dynolube if gasoline costs $4.00 per gallon and your car averages 20 miles per gallon without the Dynolube? b. If a quart of Dynolube sells for $19.95, would you use this product in your automobile?
For Elizabeth, one of the most exciting aspects of landing a full-time job was being able to buy a different car! Even though she will be working in an urban area, she will need a reliable vehicle to travel to client locations outside the city. Elizabeth is trying to decide if she should buy a new vehicle or a slightly used vehicle, or lease a new(er) vehicle. She has had her eye on a dazzling blue SUV; it stares at her every time she drives by the lot. But she's not sure if she can justify its cost. Here are the costs and benefits she has gathered for each of these options: Monthly payment Time frame Warranty Full coverage Isurance Buy New $550 6 years Excellent for 100,000 miles $205 per month $350 Buy Used 4 years Excellent for next 40,000 miles only $155 per month Lease Midnight- Blue SUV $310 plus $2 per mile if over 10,000 miles per year 2 years Excellent for length of lease $185 per month
Write the two computational schemes for calculating the earned interest?
(I am trying to find the simplest way to solve the question if Im using a cas calculator) (Formulas and notes I can put on my calculator are helpful) An apple grower finds that if he plants 80 trees per acre, each tree will yield 26 bushels of fruit. He estimates that for each additional tree planted per acre, the yield of each tree will decrease by 4 bushels. Given a price of $1.00 per bushel, find the maximum revenue and how many trees should he plant per acre to maximize her harvest? 36 trees per acre, maximum revenue of $7,480 37 trees per acre, maximum revenue of $7,482 43 trees per acre, maximum revenue of $7,482 44 trees per acre, maximum revenue of $7,480
Upgrading an Organization’s ComputersYour organization earns $50 million in annual sales, has 500 employees, andplans to acquire 250 new mobile computers this year along with another 250next year. The goal is to issue every employee a company-owned computer,which they can use at work and at home. The computers will be loaded withantivirus software and productivity software to meet each employee’s business needs. Your organization has decided it will purchase the computersfrom the same manufacturer to obtain a quantity purchase discount. To theextent possible, the goal is to have the same hardware and software foreveryone to simplify the troubleshooting and support of the computers. Thechief financial officer has asked you to lead a project team to define users’computer hardware needs and recommend the most cost-effective solutionfor meeting those needs. Critical Thinking Questions1. Who else (role, department) and how many people would you select to bea member of the team? How would…
Please use vocab to fill in #1-#4, and #5 and #7