This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Tom is going to quit his job to pursue his PhD in economics, which will take him 6 years to ... (Read 39 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
on: Jul 1, 2018
Tom is going to quit his job to pursue his PhD in economics, which will take him 6 years to complete. He currently makes 55,000 per year as a high school teacher.
 
  While going to school, he will receive a stipend of 24,000 per year plus 6,000 per year to help cover food and rent. His living expenses are the same regardless of what he does. What is Tom's opportunity cost of pursuing his PhD? A) 150,000
  B) 180,000
  C) 186,000
  D) 330,000

Question 2

Which of the following would force a monopoly to charge a lower price?
 
  A) A new firm selling the same enters the market.
  B) A new firm selling the same product locates close to the monopoly.
  C) A new firm introduces a better substitute for the firm's product.
  D) All of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xthemafja

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


ss2343

  • Member
  • Posts: 548
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in
The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old. The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old.
A levallois core from Kapedo Tuffs, Kenya dates about 130,000 years ago. A levallois core from Kapedo Tuffs, Kenya dates about 130,000 years ago.
Patients Older than 60 Years of Age Patients Older than 60 Years of Age
Earth 200 Million Years Ago Earth 200 Million Years Ago
Video: Introduction to Cystic Fibrosis

For a complete list of videos, visit our video library