Answer: The opportunity cost ratio for Jedidiah Schlepp per week is 1.2 gizmos per unit of whatsit or 1.2:1.
Jedidiah Schlepp can produce a maximum of either 24 gizmos or 20 whatsits in a week.
So,
24 gizmos = 20 whatsits
Since we need to express the opportunity cost ratio as number of gizmos to one unit of whatsit, we divide both sides of the equation by 20.
We get,
In economics, Logrolling is a trading of favors. Usually this is done in legislative members in which they trades to get the favor of the other members.
For example:
I am running for a certain position, In order to get the highest vote, I will talk to the other members to vote me in exchange to their favors.
Answer:
contribution
Explanation:
the landlord will spend money building the swimming pool, and he/she will do it expecting to receive a higher rent. The appraiser should try to determine if the investment in the swimming pool will contribute enough extra rent to justify making the investment. In other words, does the landlord increase his/her net economic profit by installing the swimming pool?
