Four methods of completing a tax return and the time taken by each method are: A PC, one hour B Pocket calculator, 12 hours C Pocket calculator and paper and pencil, 12 hours D Pencil and paper, 16 hours The PC and its software cost $1,000, the pocket calculator costs $10, and the pencil and paper cost $1. If the wage rate is $5 an hour, the economically efficient method is If the wage rate is $50 an hour, the economically efficient method is A; B D; D B; B B; C If the wage rate is $500 an hour, the economically efficient method is

Four methods of completing a tax return and the time taken by each method are: A PC, one hour B Pocket calculator, 12 hours C Pocket calculator and paper and pencil, 12 hours D Pencil and paper, 16 hours The PC and its software cost $1,000, the pocket calculator costs $10, and the pencil and paper cost $1. If the wage rate is $5 an hour, the economically efficient method is If the wage rate is $50 an hour, the economically efficient method is A; B D; D B; B B; C If the wage rate is $500 an hour, the economically efficient method is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Four methods of completing a tax return and the time taken by each method are:
A PC, one hour
B Pocket calculator, 12 hours
C Pocket calculator and paper and pencil, 12 hours
D Pencil and paper, 16 hours
The PC and its software cost $1,000, the pocket calculator costs $10, and the pencil and paper cost $1.
If the wage rate is $5 an hour, the economically efficient method is
If the wage rate is $50 an hour, the economically efficient method is
A; B
D; D
B; B
B; C
If the wage rate is $500 an hour, the economically efficient method is

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