Economics in a Global Environment

As a manager of a monetary training business you have two monetary planners, Phil and Francis. In an hour, Phil support put out either one pecuniary describe or swear out 8 call hindquarters calls, while Francis fecal matter either set clear up 2 financial disceptations or respond 10 band calls. Does either person have an absolute advantage in producing both products? Should these two planners be self-sufficient (each producing affirmations and answering environs) or specialize? Be sure to show your work. In this figure it is clear that in either scenario each of these financial planners crapper indeed get up both a financial statement as well as answer calls. In the look of Phil instead of answering 8 phone calls Phil could answer 4 calls and produce a financial statement. All Phil ask to do is allocate his time to 30 minutes producing his financial statement and 30 minutes to answer phone calls. If he does his financial statement first it would elimina te his need to flower and whether he answered 1,2,3 or 4 calls still would have inclined him the cleverness to do both task. In the case of Francis, it shows that she evoke do 2 financial statements or 10 phone calls in the same time frame given to her counterpart. This is a no brainer if Francis is able to do 2 statements or 10 calls she tooshie easily do 1 statement and 5 calls or maybe even push out 1 statement and 6 or 7 calls. Whatever the step it is wi barelyut a doubt that she can indeed do both in an hours time. From my understanding of Production Possibilities Curve one can produce more of one product by sacrificing or so of another(prenominal) product thus enabling to produce both tho one would be less in amount to what is unremarkably normal. I think... If you want to get a full essay, bon ton it on our website: BestEssayCheap.com

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