The main problem will arise when it has to be with converting the public good to numbers where it can be interpreted and studied. The number of people can also be something difficult to deal with because it deppends on the distance of the people seeing the fireworks show and if the distance is ok for the number of people looking at the fireworks
Answer:
$5,896,778
Explanation:
The computation of the increase value in the liabilities section is shown below:
= Present value of the first liability due in one year + Present value of the second liability due in three years
= $1,388,889 + $4,507,889
= $5,896,778
For computing the increase value in the liabilities we simply added the present value of two liabilities given in the question
Answer: See explanation
Explanation:
The reasons for the difference in wages include:
1. Education and training: A nurse uses about 4-5 years to train to become a nurse while a surgeon uses about 15 years both at medical school and for further training and examination before he or she qualifies as a surgeon. This is a reason for the higher earning of the surgeon.
2. Also, due to the low barriers to entry, there are numerous nurses than surgeons who are few. This affects earnings as well as there are more supply of nurses which brings about a lower income than surgeons who are scarce and highly priced.
3. The skills and experience matters as well and the risks involved in their jobs results in wage difference too.
