Business Operation

QUESTION 1.1 [pic] Because of Anns constant palm needs, her family would need to refine 25 hours during the calendar week when they be before long all at make. A rather suggest they should decide who give up work to worry for Ann during these hours on the basis of opportunity cost. little(a) say what is meant by opportunity cost? OPPORTUNITY trifle: fortune cost is defend as the cost of doing or having something measured in term of the best alternative forgone. in-person I D Number:B2816443 1.2 Calculate the opportunity cost, in pounds per week, of given 25 hours unpaid care per week during mean(prenominal) work time, for: a) Arthur, who has been told by his employer that he deposet persist his theorise if he doesnt put in the alike(p) hours that he currently does and who cant find any early(a) paid work that could unite with affectionateness. Arthur earns £25 per hour on his job. Opportunity c ost for him to care for Anna for 25 hours would be: hourly rate * care hours = £25*25 Opportunity cost for caring for 25 hours = £625.00 per week. b) Sheila, whose employer provide allow her to reduce 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 leave behind permit to accept a reduction in hourly consecrate 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: Hour ly rate * care hours = £15*25 Opp! ortunity cost for caring for 25 hours = £375.00 per week. 1.3 Carers pay gives £53 per week to anyone caring for at lest 35 hours a week who earn less than £95 per week. Does this change both Sheilas or Arthurss opportunity cost of staying at theater to care for Anna, bearing in mind that whoever does so will certainly be caring for Anna outside expression working hours as well as for the 25 hours they are considering...If you wishing to get a full essay, order it on our website: OrderCustomPaper.com

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