Economics in a Global Environment

As a manager of a monetary supplying business you have two fiscal planners, Phil and Francis. In an hour, Phil hurt put out either one financial key out or swear out 8 call bottom calls, while Francis fecal matter either set rack up 2 financial disceptations or coiffe 10 border calls. Does either person have an absolute advantage in producing slightly(prenominal) products? Should these two planners be self-sufficient (each producing affirmations and answering straits) or specialize? Be sure to show your work. In this conformation it is clear that in either scenario each of these financial planners crapper indeed get up both a financial statement as well as answer calls. In the look of Phil instead of answering 8 phone calls Phil could answer 4 calls and produce a financial statement. All Phil needfully to do is allocate his time to 30 minutes producing his financial statement and 30 minutes to answer phone calls. If he does his financial statement first it would eliminate his need to hastiness and whether he answered 1,2,3 or 4 calls still would have assumption him the cleverness to do both task. In the case of Francis, it shows that she piece of ass do 2 financial statements or 10 phone calls in the same time frame given to her counterpart.

This is a no brainer if Francis is able to do 2 statements or 10 calls she gouge easily do 1 statement and 5 calls or maybe even push out 1 statement and 6 or 7 calls. Whatever the come it is wibutut a doubt that she can indeed do both in an hours time. From my understanding of Production Possibilities Curve one can produ ce more of one product by sacrificing some o! f another(prenominal) product thus enabling to produce both tho one would be less in amount to what is unremarkably normal. I think... If you want to get a full essay, bon net ton it on our website: BestEssayCheap.com

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