--%>

Gains from Exchange- Practice and concerts

When a world famous concert pianist is as well the world's fastest short order cook, he would most likely gain the most financially through devoting: (i) Full time to frying burgers (ii) Full time to piano practice and concerts. (iii) Half-time cooking and half-time play the piano. (iv) Half of all time and income to donations.

Choose the right answer from the above options.

   Related Questions in Business Economics

  • Q : Illustrate several theories about

    Illustrate several theories about causation?

  • Q : Assertion for the levying of a tax on

    Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?

  • Q : Problem on prisoners dilemma game Lets

    Lets assume an infinitely repeated prisoner’s dilemma game by two players. The resulting payoffs at each phase by the actions of two players are illustrated below in the table (payoffs are symbolized like (payoff for player 1, payoff for player 2)). Two players

  • Q : Perfect competition leads the economic

    The perfectly competitive market structure benefits consumers since: w) firms do not generate goods at the lowest possible price within the long run. x) firms are forced through competitive pressure to be as efficient as possible. y) firms add a much

  • Q : Describe unexpected deflation Describe

    Describe unexpected deflation?

  • Q : Explain the behavior of the workers Use

    Use the economic perspective to explain the behavior of the workers?  Why do they work so diligently?

  • Q : Determine the Relative Price of given

    When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I

  • Q : Concepts of Economic system argues by

    For Economic system argues by Adam Smith relies heavily upon all the given concepts EXCEPT: (w) market expansion will be facilitated through capital accumulation. (x) prices will be driven to the lowest point at that production can ev

  • Q : Explain how the Circular Flow Model for

    Explain how the Circular Flow Model for a Market-Oriented System?

  • Q : What are the Functions of money Explain

    Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.