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Unit 2 Econ (Example)

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Behavioral Economics Student’s Name Institutional Affiliation Course Date Question 1 Wearing a suit is a weak signal of ability than higher educational achievement because a nice suit does not sufficiently translate to how much one can perform. A fancy suit does not tell anything about the knowledge base of a person. Therefore it is hard to determine whether the person is highly productive or less productive. Anyone can go to the shop and acquire a new suit unlike higher educational performance. Employee efficiency depends on the level of expertise in his/her own major field. good or service through price manipulation. To determine deadweight loss in a market an equation P=MC can be used. From the equation total deadweight loss is the product of the changes in price and quantity (Mankiw & Taylor 2014). References Galindo-Rueda  F. (2003). looks vs knowledge. In Employer Learning and Schooling-Related Statistical Discrimination in Britain (p. 778). London: Centre for the Economics of Education. Mankiw  N. G. & Taylor  M. P. (2014). Deadweight loss. In Microeconomics (4th ed. p. 156). Andover: Cengage Learning EMEA. Sexton  R. L. (2002). Chapter 8 :behavioral signaling. In Exploring economics (p. 237). Mason OH: South-Western/Thomson Learning. [...]

Order Description:

Create a 2-4 page Word document in APA format (Not Including Title or Reference Page) containing your answers to the following questions using common economics terms and concepts: • Why is wearing a suit a weaker signal of ability than higher educational achievement? • Why do some majors in college provide more powerful signals to future employers than others? • Why could double-majoring provide a more powerful labor market signal than having a single major? • How would you explain why students might be said to “overinvest” in grades as opposed to learning course material? Additionally, using common economics terms and concepts, include in your interpretation of the following chart: (see attached)

Subject Area: Economics

Document Type: Reports

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $15

Words 550

Pages 2

Completed in 11 days

Expert Kelly E

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07.22.2016

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