LeBron James is extremely tall and athletic and, therefore, can clean his house faster than any other one person. However, whenever he spends time cleaning his house he gives up hundreds of thousands of dollars in foregone earnings and so he hires a cleaning service to clean his house for him. Which of the following economic principles does this best reflect? the exchange maximum principle the law of absolute advantage the law of comparative advantage this violates all basic economic principles, you should never hire someone to do something that you can do for yourself

LeBron James is extremely tall and athletic and, therefore, can clean his house faster than any other one person. However, whenever he spends time cleaning his house he gives up hundreds of thousands of dollars in foregone earnings and so he hires a cleaning service to clean his house for him. Which of the following economic principles does this best reflect? the exchange maximum principle the law of absolute advantage the law of comparative advantage this violates all basic economic principles, you should never hire someone to do something that you can do for yourself

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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