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Managerial Economics 4th Edition
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Chapter 9 ( 1)
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Solution for Managerial Economics 4th Edition Chapter 9, Problem 1

by Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
147 Solutions 23 Chapters 104012 Studied ISBN: 9781305259331 Economics 5 (1)
Chapter 8, Problem 8
Chapter 9, Problem 2

Chapter 9, Problem 1 : 9-1At a university faculty meeting in 2012, a...

9-1At a university faculty meeting in 2012, a proposal was made to increase the housing benefits for new faculty to keep pace with the high cost of housing. What will likely be the long-run effect of this proposal? (Hint: Think indifference principle.)

Step-By-Step Solution

9-1The proposal will likely have no net long-run effect.  Higher housing benefits mean that schools do not have to offer as much in other incentives (e.g., pay) to new faculty members to induce them to come to the university.  Consequently, the increased housing benefits will be offset with a compensating reduction in the wages of new Faculty members. Overall, any housing benefits, or lack thereof, will be capitalized in the salary package offered to the faculty member.

 

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