An Engineer earns $200 an hour in her profession. She can hire a Housekeeper for $15 an hour to take care of her home. The Engineer is very smart and hard working. She has found out that she can do the Housekeeping work twice as fast as her Housekeeper. Should she fire the Housekeeper and do the work herself? What principle in Economics should be used in answering this question?

An Engineer earns $200 an hour in her profession. She can hire a Housekeeper for $15 an hour to take care of her home. The Engineer is very smart and hard working. She has found out that she can do the Housekeeping work twice as fast as her Housekeeper. Should she fire the Housekeeper and do the work herself? What principle in Economics should be used in answering this question?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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