# Which method is economically efficient if the wage rate is (i) $5 an hour? (ii) $50 an hour? (iii) $500

## Question:

(i) $5 an hour?

(ii) $50 an hour?

(iii) $500 an hour?

Four methods of completing a tax return and the time taken by each method are: with a PC, 1 hour; with a pocket calculator, 12 hours; with a pocket calculator and paper and pencil, 12 hours; and with a pencil and paper, 16 hours. The PC and its software cost $1,000, the pocket calculator costs $10, and the pencil and paper cost $1.

## This problem has been solved!

Do you need an answer to a question different from the above? Ask your question!

## Step by Step Answer:

**Related Book For**

**View Solution**

Create a free account to access the answer

**Cannot find your solution?**

Post a FREE question now and get an answer within minutes.
* Average response time.