Gary and Diane Must Prepare a Presentation for Their Marketing

question 137

Essay

Gary and Diane must prepare a presentation for their marketing class.As part of their presentation,they must do a series of calculations and prepare 50 PowerPoint slides.It would take Gary 10 hours to do the required calculations and 10 hours to prepare the slides.It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides.
a.How much time would it take the two to complete the project if they divide the calculations equally and the slides equally
b.How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides
c.If Diane and Gary have the same opportunity cost of $5 per hour,is there a better solution than for each to specialize in calculating or preparing slides

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Definitions:

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A levy placed on foreign goods to safeguard local industries by increasing the cost of imports, hence reducing their attractiveness compared to domestic products.

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Wine that is brought into a country from another country, typically for retail and consumption within the importing country.

Exchange Rates

The price of one currency in terms of another for conversion purposes.

National Governments

The organization that leads a country, making and enforcing laws, and managing public resources and services.