EBK PRINCIPLES OF MICROECONOMICS (SECON
2nd Edition
ISBN: 9780393616149
Author: Mateer
Publisher: W.W.NORTON+CO. (CC)
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Chapter 15, Problem 2SP
To determine
Explain why some students will take unpaid internship during the summer.
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What would be the impact of rational self-interest on your decision whether to attend college fulltime or enter full-time work force?
Internships are considered a vital stepping stone to full-time employment after college, but not all internship positions are paid.
Suppose you have to decide between taking an unpaid summer internship in your field of study, or working at a factory for the summer
earning $10 an hour. If you take the factory job for the summer, what is included in your opportunity cost?
Choose one or more:
A. gaining valuable experience and increasing your human capital
B. networking with professionals in your field of study
C. the wages you make at the factory
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Suppose you have a choice of working full-time during the summer or going full-time to summer school. Summer tuition and books are $2,200. If you worked, you could make $7,000. Your rent is $1,000 for the summer, regardless of your choice. What is the opportunity of your choice of going to summer school?
Chapter 15 Solutions
EBK PRINCIPLES OF MICROECONOMICS (SECON
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- Brad Edwards is earning $36,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost of living 18 percent higher than where he currently lives. What is the minimum salary Brad would need at his new job to maintain the same standard of living?arrow_forwardThere will always be people out of work. True or falsearrow_forwardSuppose Georgette earns $13 an hour installing transistorized digital chips in electronic calculators. If you were unemployed, would you offer to work for $8 an hour to get the job? Why might a profit-maximizing employer turn down your generous offer?arrow_forward
- Cindy is a baker and runs a large cupcake shop. She has already hired 11 employees and is thinking of hiring a 12th. Cindy estimates that a 12th worker would cost her $100 per day in wages and benefits while increasing her total revenue from $2,600 per day to $2,750 per day. Should Cindy hire a 12th worker? 1. Yes. 2. No. 3. You need more information to figure this out.arrow_forward"Do Men and Women Earn the Same Amount?" Please give a reason behind your answer.arrow_forwardWhy is severance of employment relevant to youth? Explain and provide detailsarrow_forward
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