Tara, an 18-year-old, just graduated from high school. She now has three choices: 1)Go to work in
Question:
Tara, an 18-year-old, just graduated from high school. She now has three choices:
1)Go to work in retail sales and earn $25,000/year until she retires at age 65.
2)Go to cosmetology school for one year during which time she earns nothing and has to pay $11,000 for school. After she finishes cosmetology school she can get a job in the beauty industry and earn $40,000/yearuntil she retires at age 65.
3)Go to college for four years during which time she earns nothing and has to pay $20,000 per year for school. After she finishes her degree she can get a job as a policy analyst and earn $60,000/year until she retires at age 65. Draw Tara’s three different possible age-earnings profiles on one graph. Label the x-and y-axes, label each profile with the educational choice involved, and label the important wages and ages along the axes. Hint: costs for education should be considered negative wages.
Expert Answer:
Solution 1 For the xaxis you can label it as Age and for the yaxis you can label it as An... View the full answer
