Kelly is an architect, and she is trying to decide whether to hire Lawrence, a draftsman, to assist with her work. Kelly could hire Lawrence at $20 per hour, but it would take him three times as long to complete a task as it takes Kelly. Kelly is able to earn $90 per hour and has more architectural jobs than she is able to handle.
Which of the following is true?
a. Kelly should not hire Lawrence because it would be faster for her to do the work herself.
b. Kelly should do the drafting work herself because she has the lower opportunity cost.
c. Lawrence should be hired at the $20 per hour wage rate.
d. Lawrence should be hired, but only if he is paid more than $30 per hour.
e. Kelly should hire someone who earns minimum wage instead of Lawrence.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Kelly is an architect, and she is trying to decide whether to hire Lawrence, a draftsman, to assist with her work. Kelly could hire ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Why do ralph piggy and samneric lie about their part in simon death?
Answers (1)
For each of the following, determine the amount of net income or net loss for the year. a. Revenues for the year totaled $71,300 and expenses totaled $35,500. The shareholders purchased $15,000 of common stock during the year. $ b.
Answers (1)
What suggestions can you make to margot about overcoming cross-cultural communication barriers?
Answers (1)
Great Lakes Packing has two bond issues outstanding. The first issue has a coupon rate of 3.82 percent, a par value of $2,000 per bond, matures in 6 years, has a total face value of $5.2 million, and is quoted at 103 percent of face value.
Answers (1)
Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used. 1. Refer to Exhibit 14-8.
Answers (1)
New Questions in Business
One of Simplex Company's products has a contribution margin of $44,000 and fixed costs totaling $54,000. If the product is dropped, $37,000 of the fixed costs will continue unchanged.
Answers (1)
When technology spillover occurs, a. those firms engaged in technology research should be taxed by the government. b. a firm's research yields technological knowledge that can then be used by society as a whole. c.
Answers (1)
Shot-term financial goals include saving for
Answers (1)
The current sections of Sandhill Co.'s balance sheets at December 31, 2021 and 2022, are presented here. Sandhill Co's net income for 2022 was $137,700. Depreciation expense was $24,300.
Answers (1)
Vincent Corporation has 92,000 share of $105 par common stock outstanding. On June 30, Vincent Corporation declared a 3% stock dividend to be issued July 30 to stockholders of record July 15. The market price of the stock was $118 a share on June 30.
Answers (1)