subject
Business, 06.06.2020 04:59 rosenthaljaneiah2010

Kanye, Eddie, Jaco, and Danny are trying to form a band. They each have some basic skills on most instruments, so their current plan is for each of them to rotate among vocals, guitar, bass, and drums. After a year of practice and rehearsals, the band still sounds awful. Kanye can't keep a steady beat when on bass or drums, Jaco sounds terrible at everything except the bass, nobody except Eddie can remember all the chords on guitar, and even Danny's own mother thinks his singing sounds like a dying cow. At their current rate, they expect it will be several years before they are good enough to land their first paid performance. None of them have enough money saved up to last that long. They all know you are taking economics and ask your advice. What would you say to them? a) Change the rotation to be random rather than equal, to take advantage of heteroskedasticity. b) Continue with the current plan, as economies of scale should eventually kick in. c) Have each member specialize in the role that they are best in, to take advantage of benefits from specialization. d) Invest their remaining savings in new instruments, as they are at a point where the marginal product of capital exceeds the marginal product of labor. e) Abandon the band, as continued practice is doomed to suffer diminishing marginal returns.

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 04:10
Oakmont company has an opportunity to manufacture and sell a new product for a four-year period. the company’s discount rate is 18%. after careful study, oakmont estimated the following costs and revenues for the new product: cost of equipment needed $ 230,000 working capital needed $ 84,000 overhaul of the equipment in year two $ 9,000 salvage value of the equipment in four years $ 12,000 annual revenues and costs: sales revenues $ 400,000 variable expenses $ 195,000 fixed out-of-pocket operating costs $ 85,000 when the project concludes in four years the working capital will be released for investment elsewhere within the company. click here to view exhibit 12b-1 and exhibit 12b-2, to determine the appropriate discount factor(s) using tables.
Answers: 2
question
Business, 22.06.2019 06:00
If you miss two payments on a credit card what is generally the penalty
Answers: 1
question
Business, 22.06.2019 08:40
Mcdonald's fast-food restaurants have a well-designed training program for all new employees. each new employee is supposed to learn how to perform standardized tasks required to maintain mcdonald's service quality. due to labor shortages in some areas, new employees begin work as soon as they are hired and do not receive any off-the-job training. this nonconformity to standards creates
Answers: 2
question
Business, 22.06.2019 11:00
What is the correct percentage of texas teachers charged with ethics violations each year?
Answers: 2
You know the right answer?
Kanye, Eddie, Jaco, and Danny are trying to form a band. They each have some basic skills on most in...
Questions
question
Mathematics, 16.12.2021 22:40
Questions on the website: 13722362