1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Romashka [77]
3 years ago
14

Mary Jane is a lawyer who can earn $150 per hour in her law practice. She is also an excellent carpenter who can build cabinets

three times as fast as the best carpenter, whose hourly wage is $20 per hour. Which of the following is a correct economic statement?a. Mary Jane has a comparative advantage in law so she should specialize in law and hire a carpenter to make her cabinets.b. Mary Jane has an absolute and comparative advantage in both law and carpentry, so she should make her own cabinets while continuing to practice law.c. Mary Jane is three times faster than any carpenter so she should give her law practice to become a carpenter.d. When carpenters work for lawyers, they should charge $150 per hour instead of $20 per hour.e. Because Mary Jane is an excellent carpenter, when the best carpenter works for Mary Jane, he can only charge one third as much, or $6.67 per hour.
Business
1 answer:
yaroslaw [1]3 years ago
5 0

Answer:

The answer is: A) Mary Jane has a comparative advantage in law so she should specialize in law and hire a carpenter to make her cabinets.

Explanation:

Mary Jane has a comparative advantage by working as a lawyer over working as a carpenter. As a lawyer she can earn $150 an hour.

Considering that Mary Jane is 3 times as fast as a good carpenter, her work as a carpenter could be valued as the combined work of three carpenters. But even three carpenters earn less than a lawyer; $60 an hour ($20 an hour per carpenter times 3 carpenters).

So Mary Jane definitely should work as a lawyer and hire a carpenter or even three carpenters to build her cabinets.

You might be interested in
The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
Gekata [30.6K]

Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of​ sales

50% in cash from the previous​ month's sales

10% in cash from the sales from two months ago

C<u>ash collection March:</u>

From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

Total cash= $193,000

3 0
3 years ago
HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if t
Kazeer [188]

Answer:

The agency collected $ 622.5.

Explanation:

Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:

2490 x 0.25 = X

622.5 = X

Therefore, the agency collected $ 622.5.

5 0
3 years ago
______ are stocks and bonds representing secured or asset-based claims by investors against issuers.
PSYCHO15rus [73]

Answer:

1) C

2) A

Explanation:

6 0
3 years ago
Read 2 more answers
Your employer withholds money from each paycheck. what is this money used for?
sukhopar [10]
some of their employees' pay in order to cover payroll taxes and (((income tax))).Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits.
6 0
2 years ago
Sloan is a believer of the carrot-and-stick approach to behavior modification. As a leader, he reprimands his workforce and make
REY [17]

Sloan has adopted the “punishment” form of reinforcement towards his employees.

<u>Explanation:</u>

Punishment at the workplace means when new adopted changes or behavior lead to negative consequences at the workplace.

Sloan’s method of awarding only when the employees perform well is a case of the same. His action of deducting the employee's salary by 20 percent too would not positively encourage them to perform well, but lead to dissatisfaction and contempt towards him.

5 0
3 years ago
Other questions:
  • Where can I find a bomber winter jacket In flushing
    5·2 answers
  • Wear Ever is expanding and needs $6.8 million to help fund this growth. The company estimates it can sell new shares of stock fo
    6·1 answer
  • 3. Vegetables wilt or soften and their color intensifies as they
    5·1 answer
  • 1.Danner Company expects to have a cash balance of $45,000 on January 1, 2017. Relevant monthly budget data for the first 2 mont
    5·1 answer
  • The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage
    11·1 answer
  • A set of financial states made every 3 months is called a .
    12·1 answer
  • Ong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company.
    13·1 answer
  • Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold
    15·1 answer
  • I'm getting pretty desperate plz help me, I'll give brainiest, and ill make a free question worth 100 points this is for coding
    5·2 answers
  • Please help me on my homework come on bro
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!