tag:blogger.com,1999:blog-8653124926080909646.post6738073901796079395..comments2022-03-24T19:43:30.499-04:00Comments on Econ Bonus Question of the Week: Buckeyes or Wolverines?Greg Delemeesterhttp://www.blogger.com/profile/06906288835189259424noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8653124926080909646.post-38665665532291357522009-11-03T17:53:01.539-05:002009-11-03T17:53:01.539-05:00Hello, Dr. Delemeester.
This is Qi Wu. In point o...Hello, Dr. Delemeester. <br />This is Qi Wu. In point of view, this student will choose the UM, if all else constantly.<br />From the midpoint method, I guess that if the absolutely value of elastic is higher, changes will be easier.<br />In OSU<br />% change in price= 2*($17,000,000-$65,000)/($17,000,000+$65,000) =1.8527<br /><br />In UM<br />% change in price= 2*($1,250,000-$85,000)/($1,250,000+$85,000) =1.8023<br /><br />From these calculations, we can know the student is willing to go to the UM.<br /><br />Furthermore, as it offered, the odds of a career-ending injury at UM are higher that OSU.<br />So ,I guess that the student will attend in the UM.<br />Thank you very much.<br /><br />Qi WuMollyhttps://www.blogger.com/profile/09913485286245060186noreply@blogger.comtag:blogger.com,1999:blog-8653124926080909646.post-39591262121765139922009-11-03T15:12:24.281-05:002009-11-03T15:12:24.281-05:00For the OSU,
salary=1,700,000*0.94+65,000*0.06
...For the OSU,<br />salary=1,700,000*0.94+65,000*0.06<br /> =1,601,900<br /><br />For the UW,<br />salary=1,250,000*0.85+85,000*0.15<br /> =1,075,250<br /><br />Based on the above, the student should attend the OSU, for 1,601,900 is more than 1,075,250Unknownhttps://www.blogger.com/profile/12083056311913883192noreply@blogger.com