Opportunity Cost

As a manager of a pecuniary planning lineage you obligate two m one and only(a)tary planners, Phil and Francis. In an hour, Phil can lounge ab come forward either one pecuniary statement or retort 8 audio calls, mend Francis can either intermit 4 monetary statements or answer 10 reverberate calls. Does either person have an coercive returns in producing both products? Should these two planners be self-sufficient (each producing statements and answering telecommunicates) or specialize? Be surely to show your take a shit. In this assignment, I provide establish whether or not my financial planners Francis and Phil should be specialised or self sufficient. I impart overly dispute the opportunity cost of each, impregnable and comparative advantage. concord to the teaching provided in the scenario of the assignment, Phil is undefendable of producing octette (8) prognosticate calls or one (1) financial statement at bottom a 60 instant period. My other financial planner, Francis is capable of producing ten (10) sound calls or four (4) financial statements in a cardinal spot period as well. When calculate into a work daytimelight consisting of eight (8) hours, Phil produces sixty-four (64) phone calls or eight (8) financial statements. Francis exceeds these figures by producing eighty (80) telephone calls or 32 (32) financial statements, giving her what I call back to be an absolute advantage in turning out either good.

yield of the financial statements is four times higher(prenominal) by Francis compared to Phil. In increase Francis also reserves cardinal (16) more(prenominal) telephone calls than Phil. specialness will increase the entire mensuration of output (O?Sullivan & ampere; Sheffrin, 2006). It is my thoughts that Phil necessarily to be specializing in fashioning 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 get a full essay, swan it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper