Question

Explain the economic view about whether Carson Wentz should mow his own lawn or hire his neighbor to mow it for $25 a week.​ I need help as soon as possible with this. Please explain thoroughly and don't be brief.

Answer 1

You have not provided wages of Carson or his opportunity cost. Can not be explained in detail without that. Without this information it can be said he should hire his neighbour if his opportunity cost is greater than 25 dollar per week. If he continues to mow down grass still he will make loss equal to opportunity cost minus 25 dollars. But if his opportunity cost is less than 25 dollars he should mow himself and not hire neighbour. If opportunity cost is equal to 25 then he can be in different between mowing down himself or by neighbour. A type writer may be less efficient in typing than his lawyer. But it's still better for lawyer to focus on his law practice rather than on typewriters because he earns more as a lawyer than he will earn by type writing