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Suppose an individual's wage (W) depends on their years of schooling (S) and their years of labour market experience (E). Both schooling and experience have a positive effect on wages but the benefits of schooling is greater for those with more experience.. Based only on the information provided the relationship given by W=2*S+E would be a valid representation of the relationship between wages, schooling and exercise. help complete

(b) A person carrying a nonfatal virus enters a town with a population of 10000 people. Each day any person with the virus passes it onto to 4 new healthy people. If left untreated, one quarter of the town will have become infected with the virus after 4.86 days and half the town will have been infected after 9.72 days. You can assume that people remain contagious indefinitely after contracting the virus.the question is well

(c) For a system of linear equations to have exactly three distinct solutions there must be at least 3 unknown variables in the system.

(d) A consumer has a utility function given by U=2*(C+W is wine. The consumer has 20 and the price of a unit chocolate is 2 and the price of a unit of wine is 1. The indifference curves for this utility function are convex and the optimal consumption of chocolate and wine is C=5 and W=10.

(e) A woman wins the lottery and is set to receive 250,000 a year, every year, for the next (2+5) years. If the interest rate is 5% compounded annually, then the present value of the lottery win is (+5)* 250,000 euro.Okay

1.2 In this problem we revisit the voting game we saw in class. Let's recall the main features of the problem. There are two candidates, each of whom chooses one of ten political positions. The voters are equally distributed across these ten positions, so there is 10 percent of the electorate in each position. Voters vote for the candidate whose position is closest to theirs. If the two candidates are equidistant from a given position, the voters at that position split their votes equally. The aim of the candidates is to maximize their percentage of the total vote. In class we showed that position 1 is strictly dominated by position 2 for both candidates. However, position 1 is itself strictly dominated by other strategies. For example, position 1 is strictly dominated by position 3. Find some other position (other than 3) that strictly dominates position 1.

In the problems that follow we will review the notion of mixed strategy in several games. In particular, we will revisit the notion of expected payoff and illustrate the role that mixing can have on the iterative process of elimination of strictly dominated strategies.

1. Suppose that Devon's landlord starts charging a $5 fee for each haircut Devon provides, and that nothing else changes.

a.) Make a table showing Devon's new marginal cost for each of the first 4 haircuts. You can determine Devon's original marginal cost for each haircut by looking at the height of his supply curve in Figure 4.3.

b.) Make a table showing Devon's new supply schedule; include quantities for each of the prices listed in Table 4.1

c.) Draw Devon's original supply curve and his new supply curve after he must pay his landlord $5 per haircut.

2. Draw a smooth, upward-sloping curves to represent supply in the entire soap market and label it "Supply". Suppose that because firms in the soap market are experiencing losses, some shut down. Draw a new market supply curve on the same graph as the old one, showing the general effect of the decrease in the number of firms and label it "Supply".

3. At a price of $18 for a haircut, Devon's supply curve indicates that he would supply 1 haircut. However, if he supplied 2 haircuts for $18 each, he would take in a total of $36. His only costs for providing 2 haircuts would be the $10 marginal cost of the first haircut and the $20 marginal cost of the second haircut, for a total of $30. Explain why Devon would not provide 2 haircuts even though his receipts of $36 would exceed his total cost of $30.

4. Suppose people in your area hire college students to do yard work.

a.) Make a table that indicates the lowest wage that you would accept to provide the first, second, third, fourth and fifth hour of yard work tomorrow evening between 5pm and 10pm. Take into account the other things that you could do tomorrow evening.

b.) Explain any differences between the least you would accept for the first hour of yard work and the least you would accept for the fifth hour of yard work.

c.) Draw your supply curve for yard work

d.) What is one change in this situation that would shift your supply curve? In which direction would this change shift your supply curve?

[11:17 PM, 4/2/2022] King: and QT 2 = aTLT 2 in period 2, where QT t denotes output in period t = 1,2 and LT t denotes employment in the traded sector in period t = 1,2.

Similarly, production in the nontraded sector in periods 1 and 2 is given by

QN 1 = aNLN 1 and QN 2 = aNLN 2 .

1. Write down the budget constraint of the household in periods 1 and 2.

2. Write down the intertemporal budget constraint of the household.

3. State the household's utility maximization problem.

Explain in detail why budget constraint is W1 = (Ct1+Cn1)*pn1 [11:17 PM, 4/2/2022] King: 1. Suppose that Devon's landlord starts charging a $5 fee for each haircut Devon provides, and that nothing else changes.

a.) Make a table showing Devon's new marginal cost for each of the first 4 haircuts. You can determine Devon's original marginal cost for each haircut by looking at the height of his supply curve in Figure 4.3.

b.) Make a table showing Devon's new supply schedule; include quantities for each of the prices listed in Table 4.1

c.) Draw Devon's original supply curve and his new supply curve after he must pay his landlord $5 per haircut.

2. Draw a smooth, upward-sloping curves to represent supply in the entire soap market and label it "Supply". Suppose that because firms in the soap market are experiencing losses, some shut down. Draw a new market supply curve on the same graph as the old one, showing the general effect of the decrease in the number of firms and label it "Supply".

3. At a price of $18 for a haircut, Devon's supply curve indicates that he would supply 1 haircut. However, if he supplied 2 haircuts for $18 each, he would take in a total of $36. His only costs for providing 2 haircuts would be the $10 marginal cost of the first haircut and the $20 marginal cost of the second haircut, for a total of $30. Explain why Devon would not provide 2 haircuts even though his receipts of $36 would exceed his total cost of $30.

4. Suppose people in your area hire college students to do yard work.

a.) Make a table that indicates the lowest wage that you would accept to provide the first, second, third, fourth and fifth hour of yard work tomorrow evening between 5pm and 10pm. Take into account the other things that you could do tomorrow evening.

b.) Explain any differences between the least you would accept for the first hour of yard work and the least you would accept for the fifth hour of yard work.

c.) Draw your supply curve for yard work

d.) What is one change in this situation that would shift your supply curve? In which direction would this change shift your supply curve?

1. Determine which statement about zero-cost purchased collars is FALSE (A) A zero-width, zero-cost collar can be created by setting both the put and call strike prices at the forward price. (B) There are an infinite number of zero-cost collars. (C) The put option can be at-the-money. (D) The call option can be at-the-money. (E) The strike price on the put option must be at or below the forward price. 2. You are given the following: The current price to buy one share of XYZ stock is 500. The stock does not pay dividends. The continuously compounded risk-free interest rate is 6%. A European call option on one share of XYZ stock with a strike price of K that expires in one year costs 66.59. A European put option on one share of XYZ stock with a strike price of K that expires in one year costs 18.64. Using put-call parity, calculate the strike price, K. (A) 449 (B) 452 (C) 480 (D) 559 (E) 582