Need help with Economics questions about a marginal analysis

Nov 14th, 2015
SKTFaker
Category:
Economics
Price: $15 USD

Question description

1.You have made the decision to pursue higher education. Describe the economist’s view of how a decision like that is made. Using marginal analysis, make sure you evaluate the “rationality” of the decision and explain why the following statement is irrational: "Higher education is priceless, so everyone should pursue a degree no matter the cost.”

2.Recall your readings about Shaq moving furniture and playing basketball. Use both absolute and comparative advantage to explain the following: Suppose you have one partner for a school project requiring both math and writing skills. If you are better than your partner at both math and writing, does this mean you should be responsible for both parts? Use comparative and absolute advantage to explain. 

3.The Econville News reports the invention of a machine that allows cows to milk themselves. Provide a brief written description/explanation of the effect of this news on the equilibrium price and quantity of milk.

4.The Econville News reports that drinking at least 8 ounces of milk a day increases bone density 10% over a life time. Provide a brief written description/explanation of the effect of this news on the equilibrium price and quantity of milk.

5.Consider a time in your life when you have benefited from an externality and a time when you have suffered from an externality. Make sure to clearly describe your role and the type of externality. What is your opinion about the role of government in each of these situations?

MUST BE IN YOUR OWN WORDS AND WILL BE RAN THROUGH TURNITIN


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: University of Maryland
PREMIUM TUTOR

Studypool has helped 1,244,100 students

7 Reviews


Summary
Quality
Communication
On Time
Value
kpcutie
Dec 4th, 2016
" Excellent job "
Hemapathy
Nov 20th, 2016
" all I can say is wow very fast work, great work thanks "
BlueOcean
Nov 7th, 2016
" Awesome! Exactly what I wanted. "
kevin12622
Oct 29th, 2016
" Goes above and beyond expectations ! "
ashleyisgod
Oct 15th, 2016
" Top quality work from this guy! I'll be back! "
likeplum4
Oct 6th, 2016
" Excellent work as usual "
Molly_Moon
Sep 23rd, 2016
" AMAZING as always! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1824 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors