Consider the market for university economics professors. Suppose the opportunity cost of going to graduate school to get a Ph. D. in economics increases for many individuals. Suppose it generally takes about five years to get a Ph. D. in economics. Holding all else constant, in five years the equilibrium quantity of university economics professors will
a.
increase.
b.
decrease.
c.
not change.
d.
It is not possible to determine what will happen to the equilibrium quantity.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Consider the market for university economics professors. Suppose the opportunity cost of going to graduate school to get a Ph. D. in ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A company general ledger shows a checking account balance of $22,810 on July 31, Year 1. The July cash receipts of $1,725, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on
Answers (1)
If product costs are misclassified as selling costs, the average cost per unit will be understated. a. Trueb. False
Answers (1)
To find the balance due from an individual customer, the accountant would refer to
Answers (1)
Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2018 and 2017 contained errors as follows: 2018 2017 Ending inventory $9,000 overstated $24,000 overstated Depreciation expense $6,000 understated $18,000 overstated
Answers (1)
The contribution margin ratio explains the percentage of each sales dollar that
Answers (1)
New Questions in Business
Bond Company sells inventory to its subsidiary, Esquivel Company, at a profit during 2020. If Bond uses the cost method to account for its equity investment in Esquivel, which of the following would be credited in the consolidated worksheet for 2021?
Answers (2)
Most of the time it is quite difficult to separate the three functions of money. Money performs its three functions at all times, but sometimes we can stress one in particular.
Answers (1)
The APB partnership agreement specifies that partnership net income be allocated as follows: Partner A Partner P Partner B Salary allowance 30000 10000 40000 Interest on average capital balance 10% 10% 10% Remainder 40% 40% 20% Average capital
Answers (1)
The supply curve of reserves in an economy is horizontal when: A) the federal funds rate is greater than the seasonal credit discount rate. B) the federal funds rate is less than the secondary credit discount rate.
Answers (1)
Colton took out a 3 year loan for $2075 at a computer store to be paid back with monthly payments at a 10.7% APR. If the loan offers no payments for the first 11 months, how many payments will Colton be required to make?
Answers (1)