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Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: sjbux on Jul 21, 2019 Recall the Application about Jasper Johns and house painting to answer the following question(s). In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and therefore should hire a house painter who charges $150 per day, and takes 10 days, to paint his house.
This Application addresses the economic concept of: ▸ the marginal principle. ▸ specialization and exchange. ▸ diminishing returns. ▸ real versus nominal costs. Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: Niquegirl21! on Jul 21, 2019 Content hidden
Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: nyounger on Oct 28, 2019 Recall the Application about Jasper Johns and house painting to answer the following question(s). In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and therefore should hire a housepainter who charges $150 per day, and takes 10 days, to paint his house.
At what point should Jasper Johns consider painting his own house? ▸ if the housepainter charged $2,500 per day, since that is excessive for painting a house ▸ if his earnings dropped to $1,000 per day ▸ if the housepainter charged more for 10 days worth of work than Johns could earn each day ▸ if the housepainter charges $500 per day and takes 20 days to paint the house Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: peaceout3000 on Oct 28, 2019 if the housepainter charged more for 10 days worth of work than Johns could earn each day
Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: joanne1718 on Oct 28, 2019 Recall the Application about Jasper Johns and house painting to answer the following question(s). In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and therefore should hire a housepainter who charges $150 per day, and takes 10 days, to paint his house.
Based on the Application, Jasper Johns' daily earnings are 33.33 times more than the housepainter's daily earnings. If Jasper Johns' earnings per day were only twice as much as the housepainter's earnings, what should he do? ▸ He should hire a less productive housepainter. ▸ He should still hire the housepainter to paint his house. ▸ He should paint his house himself. ▸ He should remain indifferent as to who paints the house, for the difference in daily earnings would now be much less significant. Title: In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and ... Post by: Cele_1015 on Oct 28, 2019 He should paint his house himself.
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