Mary jane is a lawyer who can earn $150 per hour in her law practice. she is also an excellent carpenter

Mary jane is a lawyer who can earn $150 per hour in her law practice. she is also an excellent carpenter who can build cabinets three times as fast as the best carpenter, whose hourly wage is $20 per hour. which of the following is a correct economic statement? a. mary jane has a comparative advantage in law so she should specialize in law and hire a carpenter to make her cabinets. b. mary jane has an absolute and comparative advantage in both law and carpentry, so she should make her own cabinets while continuing to practice law. c. mary jane is three times faster than any carpenter so she should give her law practice to become a carpenter. d. when carpenters work for lawyers, they should charge $150 per hour instead of $20 per hour. e. because mary jane is an excellent carpenter, when the best carpenter works for mary jane, he can only charge one third as much, or $6.67 per hour.

Related Posts

This Post Has 10 Comments

  1. The answer is: A) Mary Jane has a comparative advantage in law so she should specialize in law and hire a carpenter to make her cabinets.

    Explanation:

    Mary Jane has a comparative advantage by working as a lawyer over working as a carpenter. As a lawyer she can earn $150 an hour.

    Considering that Mary Jane is 3 times as fast as a good carpenter, her work as a carpenter could be valued as the combined work of three carpenters. But even three carpenters earn less than a lawyer; $60 an hour ($20 an hour per carpenter times 3 carpenters).

    So Mary Jane definitely should work as a lawyer and hire a carpenter or even three carpenters to build her cabinets.

  2. D. Fast food is now served at resturants and drive-throughs, at stadiums, airports,zoos, high schools, elementry school

    Explanation:

    Schlossers' statement refers to the dominance of fast foods in American society. This domination was a result of the popularity of this type of food, which allowed fast food establishments to spread geographically throughout the country, becoming even more popular, becoming part of American culture.

    The phrase "Fast food is now served at resturants and drive-throughs, at stadiums, airports, zoos, high schools, elementry school" is perfect to support Schlossers' statement, showing how fast food dominance was established across the national territory.

  3. Fast food is now served at restaurants and drive-through, at stadiums, airports, zoos, high schools, elementary schools

  4. her breaststroke speed is is 30 laps per hour

    Step-by-step explanation:

    Let b represent Justine’s butterfly speed and

    Let r represent Justine’s breaststroke speed.

    Justine swims freestyle at a pace of 150 laps per hour. Justine swims breaststroke 20 laps per hour slower than she swims butterfly. This means that

    r = b - 20

    If Justine’s freestyle speed is three times faster than her butterfly speed, it means that

    3b = 150

    b = 150/3 = 50

    Substituting b = 50 into r = b - 20, it becomes

    r = 50 - 20 = 30

  5. 'During a relatively brief period of time, the fast food industry has helped to transform not only the American diet, but also our landscape, economy, workforce, and popular culture'.

    Explanation:

    The book, 'Fast Food Nation', written by Eric Schlosser in 2001 narrates the infiltration of fast food in America. The evidence to support the statement that fast food has infiltrated the American society over the last three decades can be found in the quote above from the book. Three decades before 2001 began in 1970 which was just a short period of time. Also, the fact that fast food has infiltrated all the nooks and crannies of the American society is found in the fact that restaurants, airports, airplanes, trains, ships, gas stations, Wal-Marts, and even hospital cafeterias now sell fast food. These represent the diet, landscape, economy, workforce, and popular culture of the American society which were affected within a brief period of time.

    More evidence is found in the spending nature of Americans which have seen a huge investment in fast food that in other important aspects of the American society such as education, software, films and literature.

  6. The problem statement gives you the relationship between their speeds, and it gives you information you can use to find their total speed. You solve this by finding the total speed, then the proportion of that belonging to Bill.

    The total speed is (120 mi)/(3 h) = 40 mi/h.

    The speed ratio is ...

    ... Bill : Joe = 3 : 1

    so the speed ratio Bill : Total is ...

    ... 3 : (3+1) = 3:4.

    Bill's speed is (3/4)×(40 mi/h) = 30 mi/h.

  7. Justine swims breaststroke at a pace of 50 laps per hour.

    Step-by-step explanation:

    Consider the provided information.

    Let b represent Justine’s butterfly speed in laps per hour and r represent Justine’s breaststroke speed in laps per hour.

    Justine swims breaststroke 20 laps per hour slower than she swims butterfly.

    This can be represented by tape diagrams as shown in figure 1.

    Therefore, b=20+r

    Justine swims freestyle at a pace of 150 laps per hour and Justine’s freestyle speed is three times faster than her butterfly speed,

    This can be represented by tape diagrams as shown in figure 2.

    Therefore, 3b=150

    Simplify the above equation as shown:

    3b=150

    b=50

    Hence, the Justine swims butterfly at a pace of 50 laps per hour.

    Substitute the value of b in b=20+r

    50=20+r

    r=30

    Hence, Justine swims breaststroke at a pace of 50 laps per hour.

    [tex]Justine swims freestyle at a pace of 150 laps per hour. justine swims breaststroke 20 laps per hour[/tex]
    [tex]Justine swims freestyle at a pace of 150 laps per hour. justine swims breaststroke 20 laps per hour[/tex]

  8. fast food is now served at restaurants and drive Throughs at stadiums airports zoos high schools elementary schools

    Explanation:

Leave a Reply

Your email address will not be published. Required fields are marked *