Determine whether each of the following would increase or decrease the opportunity costs for mothers who decide not to work outside the home. Explain your answers.Higher levels of education for womenHigher unemployment rates for womenHigher average pay levels for womenLower demand for labor in industries that traditionally employ womenMany households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production:Both husband and wife are professionals who earn high salaries.The household is located in a city rather than in a rural area.The household is located in a region where there is a high sales tax on food.The household is located in a region that has a high property tax rate.

Opportunity cost (OC) is the cost of next best alternative that is available.

Answered: Determine whether each of the following…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 14P

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Determine whether each of the following would increase or decrease the opportunity costs for mothers who decide not to work outside the home. Explain your answers.

Higher levels of education for women
Higher unemployment rates for women
Higher average pay levels for women
Lower demand for labor in industries that traditionally employ women
Many households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production:
1. Both husband and wife are professionals who earn high salaries.
2. The household is located in a city rather than in a rural area.
3. The household is located in a region where there is a high sales tax on food.
4. The household is located in a region that has a high property tax rate.

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