Use comparative advantage and specialize in calculating

Reference no: EM13191181

Gary and Diane must prepare a presentation. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides. It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides.

a. How much time would it take the two to complete the project if they divide the calculations equally and the slides equally?
b. How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides?
c. If Diane and Gary have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?

Reference no: EM13191181

Questions Cloud

Will sale of whiskey rise or fall-by what percentage amount : The price elasticity of demand for imported whiskey is estimated to be -0.20 over a wide interval of prices. The federal goverment decides to raise the import tariff on foreing whiskey, causing its price to raise by 20%.

State it is important to not dilute an initial sample : Why is it important to not dilute an initial sample before it hasbeen loaded

Find the probability of receiving a phone call during office : Find the probability of receiving a phone call during office hours between 12:00 p.m. and 5:00 p.m. You may assume phone calls are equally likely at any time of the day.

Compute the wight og agcl in grams that form per liter : soultion containing 10e-3 mol of dissolved Ag+ demonestrate that AgCl precipitate from the solution and calculate the wight og AgCl in grams that form per liter. Assume that all activities coefficients are equal to one.

Use comparative advantage and specialize in calculating : Gary and Diane must prepare a presentation. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides.

What is the lowest grade the student : a math student has a 100 homework average and test grades of 99,100 and 97. what is the lowest grade the student can get on the final exam and still get an A (an average of 90 or better) in the class?

Find the emperical formula for the compound : Three pure compounds are formed when 1.00 g sample of elements X combine with, respectively, 0.472 g, 0.420 g, and 0.236 g of element Z. The first compound has the formula X2Z3.

How close to the ground can the ball fall before : How close to the ground can the ball fall before it is too late for a warning shout from the balcony to reach the man in time? Assume that the man requires 0.300 s to respond to the warning.

Determine fixed costs equal value of the last three digits : Given the above variable cost data and assuming fixed costs equal the value of the last three digits of your MDC student ID, create a file using Excel that lists Output, Fixed Cost, Variable Cost, Total Cost, Average Fixed Cost, Average Variable C..

User Account

All Pages