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Feliz [49]
3 years ago
14

You are a professor of economics at a university.​ you've been offered the position of serving as department​ head, which comes

with an annual salary that is ​$8 comma 5008,500 higher than your current salary.​ however, the position will require you to work 200 additional hours per year. suppose the next best use of your time is spending it with your​ family, which has value of ​$2020 per hour.
Business
1 answer:
Oxana [17]3 years ago
6 0

Answer:

$4500

Explanation:

We can calculate the total change in benefits by deducting the opportunity cost of spending the hours with your family by the annual salary.

Opportunity cost = $20/hour x 200 Additional hours

Opportunity cost = $4000

Total change in benefit = Annual salary - Opportunity cost

Total change in benefit  = $8500 - $4000

Total change in benefit  = $4500

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  • Then, if she wants to keep the $75,000 profits when prices falls to $15, she must sell more copies:75,000=(15-5)\times{NewQuantity}. Then, the quantity she must sell to mantain the profit constant at $75,000 is New quantity=7,500.
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