Aaron has an option to choose from four forms of employment: full-time, part-time, contractor orself-employed. The opportunity cost of working hours for Aaron is $10/hour. Aaron receives travelallowances depending on his employment choice, which reduces his travel cost accordingly.Forms ofemploymentFull-timeWorking hours(hours/day)8 hoursTravel cost($/day)$5$10$10$35Part-time6 hoursContractor5 hoursSelf-employed4 hoursUsing the Multipoint curve drawing tool, draw the total cost curve and label it.Carefully follow the instructions above and only draw the required object.Total cost ($ per day)100-95-90-65-60-55-50-Full-time Part-time ContractorForms of employmentSelf-employed

In this case, we have to find out the total cost curve for four forms of employment choices i.e.…

Aaron has an option to choose from four forms of employment: full-time, part-time, contractor or self-employed. The opportunity cost of working hours for Aaron is $10/hour. Aaron receives travel allowances depending on his employment choice, which reduces his travel cost accordingly. Forms of employment Full-time Working hours (hours/day) 8 hours 6 hours 5 hours 4 hours Travel cost ($/day) $5 $10 $10 $35 Part-time Contractor Self-employed Using the Multipoint curve drawing tool, draw the total cost curve and label it. Carefully follow the instructions above and only draw the required object. Total cost ($ per day) 100- 95 90- 85- 65- 60- 55 50 Full-time Part-time Contractor Forms of employment G Self-employed

Aaron has an option to choose from four forms of employment: full-time, part-time, contractor or self-employed. The opportunity cost of working hours for Aaron is $10/hour. Aaron receives travel allowances depending on his employment choice, which reduces his travel cost accordingly. Forms of employment Full-time Working hours (hours/day) 8 hours 6 hours 5 hours 4 hours Travel cost ($/day) $5 $10 $10 $35 Part-time Contractor Self-employed Using the Multipoint curve drawing tool, draw the total cost curve and label it. Carefully follow the instructions above and only draw the required object. Total cost ($ per day) 100- 95 90- 85- 65- 60- 55 50 Full-time Part-time Contractor Forms of employment G Self-employed

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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