Opportunity Cost

As a manager of a monetary training billet you have two fiscal planners, Phil and Francis. In an hour, Phil arouse scram every one financial tale or repartee 8 audio calls, while Francis can either disclose 4 financial statements or answer 10 phone calls. Does either person have an coercive vantage in producing both products? Should these two planners be egotism-sufficient (each producing statements and say phones) or specialize? Be sure to show your tax return a shit. In this assignment, I will establish whether or not my financial planners Francis and Phil should be specialized or self sufficient. I will overly discuss the opportunity be of each, absolute and comparative advantage. concord to the information provided in the scenario of the assignment, Phil is opened of producing octonary (8) prognosticate calls or one (1) financial statement within a 60 minute period. My other financial planner, Francis is capable of producing ten (10) telephone calls or four (4) financial statements in a cardinal minute period as well. When figured into a work day consisting of eight (8) hours, Phil produces 64 (64) phone calls or eight (8) financial statements. Francis exceeds these figures by producing 80 (80) telephone calls or 32 (32) financial statements, giving her what I believe to be an absolute advantage in crook out either good. yield of the financial statements is four time higher by Francis compared to Phil. In addition Francis also makes xvi (16) more telephone calls than Phil. specialness will increase the immaculate amount of output (O?Sullivan & ampere; Sheffrin, 2006). It is my thoughts that Phil needfully to be specializing in making telephone calls and Francis needs to be specializing in producing financial statements. On the other hand, if I were to make this decision, I would be losing sixteen (16) phone calls a day that... If you want to demand a full essay, swan it on our website: Orde! rCustomPaper.com

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