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Adam could whack down all the weeds on his estate in one hour at an opportunity cost of $1,000, but it would take 20 hours
Adam could whack down all the weeds on his estate in one hour at an opportunity cost of $1,000, but it would take 20 hours for a gardener to do it at a price of $10 per hour. If Adam only earned $500 instead of $1,000 per hour, what should he do? He should still hire the gardener. He should do the weed-whacking himself. He should hire a less-productive gardener. He should be indifferent as to who does the weed-whacking, for the difference in hourly earnings would now be insignificant
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