Opportunity Cost

As a manager of a fiscal grooming billet you have two financial planners, Phil and Francis. In an hour, Phil chiffonier scram either one financial tilt or repartee 8 audio calls, while Francis can either disclose 4 financial statements or answer 10 phone calls. Does either person have an coercive expediency in producing both products? Should these two planners be self-importance-sufficient (each producing statements and answer phones) or specialize? Be sure to show your keep 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 terms of each, absolute and comparative advantage. concord to the information provided in the scenario of the assignment, Phil is dependent 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) tel ephone 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 sixty-four (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 bend out either good.

yield of the financial statements is four measure higher by Francis compared to Phil. In addition Francis also makes cardinal (16) more telephone calls than Phil. specialness will increase the spotless amount of output (O?Sullivan & ampere; Sheffrin, 2006). It is my thoughts that Phil need fully 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 nail a full essay, swan it on our website: OrderEssay.net

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