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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Operations management planning does not include decisions аbout: where to locate a business facility and how it will be configured. materials requirement planning. quality control. the acquisition of financing for projects
Answers (1)
Bowyer Driving School's 2014 balance sheet showed net fixed assets of $3 million, and the 2015 balance sheet showed net fixed assets of $3.7 million. The company's 2015 income statement showed a depreciation expense of $200,000.
Answers (1)
What is the difference between Special warranty deed vs general warranty deed
Answers (1)
The bureau of labor statistics reported that in june 2004 , the labor force was 149.2 million, employment was 140.7 million, and the working-age population was 223.4 million.
Answers (1)
The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $110 Mar. 10 Purchase 60 units at $120 Aug. 30 Purchase 10 units at $124 Dec.
Answers (1)
New Questions in Business
Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.
Answers (1)
An Insurance company is a business in which it pays to the company if there is a loss, damage, treatments or injury for the payment of premium amount. It calculates the risks that has occurred and pays to compensate the premium amount.
Answers (1)
Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines.
Answers (1)
Use the following example to answer the following questions: Imagine that Stella deposits $25,000 in currency (which she had been storing in her closet) into her checking account at the bank.
Answers (1)
Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on
Answers (1)