A certain politician has a brilliant idea. he will increase his popularity and assure reelection by giving away cash to everybod
y in the country. he will give $1 to a certain u.s. citizen, $2 to another, $3 to another, and so on until he has given away $297,624,985 to the 297,624,985th and last citizen of the united states.
<span>Put all of these numbers in a line...obviously, don't put ALL of them, but enough so you can see what you're doing.
1 + 2 + 3 + ... + 297,624,985
Now put all these numbers BACKWARDS underneath that.
1 + 2 + 3 + ... + 297,624,985
297,624,985 + 297,624,984 + 297,624,983 + ... + 1
Now add the first series to the second, and you'll see that they add up to:
297,624,986 + 297,624,986 + 297,624,986 + ...297,624,986
Since there were 297,624,985 terms, the total sum here is
297,624,986 * 297,624,985
But since you added it twice, you divide it by two:
148,812,493 * 297,624,985
This is 44,290,315,996,937,605, so...yes, it is MUCH larger.</span>
b. Jacob should be hired at the $20 per hour wage rate
<u>Options</u>
a. Sophia should do the drafting work herself because she has the lower opportunity cost
b. Jacob should be hired at the $20 per hour wage rate
c. Sophia should not hire Jacob because it would be faster for her to do the work herself
d. Jacob should be hired, but only if he is paid more than $30 per hour
Explanation:
Sophia cannot fullfil their client request on time without hiring an employee Assuming Jacob is the best possible candidate for Sophie she should consider to hire it as three hours of Jabor will cost 60 dollars while an hour of his work is worth 90 dollars
Thus, making convinient to hire it as there is a profit of 30 dollars.
We should also conider jacob will earn experience over time and this will make it a better employee in the long-run.
A. aggregate demand intersects short-run aggregate supply
Explanation:
Short run occurs when the amount a firm wishes to supply is equal to the amount demanded from the consumers. It is the area on the graph where the aggregate demand curve intersect with the short run supply curve.
Or, simply put, when the aggregate output supplied is equal to the aggregate output demanded. The equilibrium is made up of equilibrium prices and quantity.
The most sensible position is to understand that theory, while not practical in itself, can be immensely helpful when dealing with pratical matters.
This is because theory gives you a sound conceptual foundation that can be used to analyze the practical context, and approach it with the best possible practical solutions.
Without theory, managers have to rely too much on intuition, which can often fail.
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