--%>

Psychic Income problem

Assume that a few years after graduating, life as an investment banker became very frustrating that you switched careers to work as the professional cat walker, and were happier even although your annual income fell much than 80 percent. Your decreased money income is actually more than offset by rises in yours: (1) Explicit income. (2) Implicit earnings. (3) Psychic income. (4) Opportunity costs. (5) Overhead costs.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Bargaining power of the union problem

    When a firm's inventories are comparatively high, then the bargaining power of union is: (i) Huge, since the firm cannot afford interruptions of the production. (ii) Great, since the firm's gains are low. (iii) Low, since the firm can sell its invento

  • Q : Short run operations of a

    This figure in below is demonstrates the operations of a profit-maximizing pure competitor into the: (1) market period. (2) short run. (3) long run. (4) super long run since this can alter technology. (5) shutdown range of production.

    Q : Slopes of demand and supply curves The

    The slopes of demand and supply curves are frequently: (w) misleading as guides to price elasticities. (x) independent of the units measuring changes in price and quantity. (y) highly dependent upon each other. (z) used to forecast changing consumer t

  • Q : Wages-Portion of costs Assume that a

    Assume that a firm with market power in output market wishes to grow up and that hiring more workers needs it to increase wages 8% for all the workers. Output prices will most likely: (1) Increase 8% to cover the wage raise. (2) Increase less than 8% as wages are only

  • Q : Meaning of tax Meaning of tax : Tax is

    Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.

  • Q : Words of Joseph A. Schumpeter about

    Joseph A. Schumpeter popularized and refined the concept that profits: (i) ultimately derive primarily from innovation. (ii) are necessary compensation to entrepreneurs for bearing uncertainty. (iii) are reduced by bureaucratic inefficiencies in firms

  • Q : Monopolistic competition In which

    In which market type, there is a requirement for selling or advertising costs? Answer: Beneath monopolistic competition, there is a requirement of selling costs sin

  • Q : Problem on organizing the business The

    The individual who wants to begin up a business, however who not want to risk in losing personal property if the business fails, must organizes the business as: (1) Sole proprietorship. (2) Partnership. (3) Corporation. (4) Unlimited partnership.

    Q : Determine price and quantity by

    The price elasticity of demand at a specified price and quantity is demonstrated by the ratio of the relative as: (w) change within quantity demanded over a specified proportional price change. (x) reciprocal of the price elasticity o

  • Q : National Income in Equality Standard As

    As per the equality standard of income distribution: (w) people should be paid according to their needs for income. (x) income should be distributed to resource owners. (y) justice requires national income to be divided equally. (z) people should be p