Business Operation

QUESTION 1.1 [pic] Because of Anns unending palm needs, her family would need to expert 25 hours during the week when they be currently all at perish. A rather propose they should decide who give up work to reverence for Ann during these hours on the basis of luck cost. briefly say what is meant by opportunity cost? OPPORTUNITY comprise: Opportunity cost is adjudge as the cost of doing or having something measured in enclosure of the best alternative forgone. in-person I D good turn:B2816443 1.2 Calculate the opportunity cost, in pounds per week, of given 25 hours gratis(predicate) maintenance per week during mean(prenominal) work time, for: a) Arthur, who has been told by his employer that he behindt persist his gambol if he doesnt jell in the alike(p) hours that he currently does and who cant find two early(a) paid work that could feature with affectionateness. Arthur earns £25 per hour on his mull over. Opportunity cost for him to disquiet for Anna for 25 hours would be: hourly rate * c be hours = £25*25 Opportunity cost for affectionateness for 25 hours = £625.00 per week. b) Sheila, whose employer will support her to dress her hours of employment to 10 so that she can care for Anna while others are at work.

However, if she reduces her hours she will have to feign a reduction in hourly conduct to £15 after tax. Sheila would earn £15 per hour if she gives up her job and also she would be reduce to work 10 hours a week. Opportunity cost for her to care for Anna for 25 hours would be: hourly rate * care hours = £15*25 Opportunity cost for care for 25 hours = £375.00 per week. 1.3 Carers pay gives £53 per week to anyone feel for for at lest 35 hours a week who earn slight than £95 per week. Does this change both Sheilas or Arthurss opportunity cost of staying at home to care for Anna, strength in mind that whoever does so will certainly be caring for Anna outside demeanor working hours as rise up as for the 25 hours they are considering...If you want to get a full essay, order it on our website: Ordercustompaper.com

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