Tom Brady Should Pay Someone Else to Mow His Lawn

question 180

Multiple Choice

Tom Brady should pay someone else to mow his lawn instead of mowing it himself, unless

• A) Brady has an absolute advantage over everyone else in mowing his lawn.
• B) Brady has a comparative advantage over everyone else in mowing his lawn.
• C) Brady's opportunity cost of mowing his lawn is higher than it is for everyone else.
• D) All of the above are correct.

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Definitions:

Marginal Cost

Marginal cost is the increase in total cost that arises from producing one additional unit of a good or service.

Lawn-mowing

The act of cutting grass to a uniform length, often done as routine maintenance for residential and commercial landscapes.

Perfectly Competitive

Describes a market structure where there are many buyers and sellers, all selling homogeneous products, with no single buyer or seller able to influence the market price.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.