A single worker incurs a cost of obtaining education of amount e given by: cle) =...

Transcribed Image Text:

A single worker incurs a cost of obtaining education of amount e given by: cle) = k-e The worker's wage is based on how much education she obtains: w(e) = a- e Assume as always that the worker's utility is simply equal to the worker's profit. u(e) = w(e) – c(e) Answer the following: Q1.1 1 Point Suppose that k = 4 and a = 6. Find the optimal level of education. Round your answer to at least three decimal places. Enter your answer here Save Answer Q1.2 1 Point Suppose that k = 4 and a = 12. Find the optimal level of education. Round your answer to at leost three decimal places. Enter your answer here Save Answer Q1.3 1 Point Suppose that k = 4 and a = 24. Find the optimal level of education. Round your answer to at Jeast three decimal places. Enter your answer here Q1.4 1 Point Increasing a causes the optimal choice of education e" to: O Increase O Decrease O No change Save Answer Q1.5 1 Point Suppose that k = 2 and a = 10. Find the optimal level of education. Round your answer to at leost three decimal places. Enter your answer here Save Answer Q1.6 1 Point Suppose that k = 4 and a = 10. Find the optimal level of education. Round your answer to at ieast three decimal places. Enter your answer here Save Answer Q1.7 1 Point Suppose that k = 6 and a = 10. Find the optimal level of education. Round your answer to at least three decimal places. Enter your answer here Save Answer Q1.8 1. 1 Point Increasing k causes the optimal choice of education e" to: O Increase O Decrease O No change Save Answer A single worker incurs a cost of obtaining education of amount e given by: cle) = k-e The worker's wage is based on how much education she obtains: w(e) = a- e Assume as always that the worker's utility is simply equal to the worker's profit. u(e) = w(e) – c(e) Answer the following: Q1.1 1 Point Suppose that k = 4 and a = 6. Find the optimal level of education. Round your answer to at least three decimal places. Enter your answer here Save Answer Q1.2 1 Point Suppose that k = 4 and a = 12. Find the optimal level of education. Round your answer to at leost three decimal places. Enter your answer here Save Answer Q1.3 1 Point Suppose that k = 4 and a = 24. Find the optimal level of education. Round your answer to at Jeast three decimal places. Enter your answer here Q1.4 1 Point Increasing a causes the optimal choice of education e" to: O Increase O Decrease O No change Save Answer Q1.5 1 Point Suppose that k = 2 and a = 10. Find the optimal level of education. Round your answer to at leost three decimal places. Enter your answer here Save Answer Q1.6 1 Point Suppose that k = 4 and a = 10. Find the optimal level of education. Round your answer to at ieast three decimal places. Enter your answer here Save Answer Q1.7 1 Point Suppose that k = 6 and a = 10. Find the optimal level of education. Round your answer to at least three decimal places. Enter your answer here Save Answer Q1.8 1. 1 Point Increasing k causes the optimal choice of education e" to: O Increase O Decrease O No change Save Answer

Answer rating: 100% (QA)

11 Ans e 0750 12 Ans e 1500 13 Ans e 3000 14 Ans We can see there is a positive relationship between ... View the full answer