'll the three countries find an open economy. 20. Whenever a firm goes bankrupt it is a bad thing from the firm's point of view. The owner loses his business, the workers have to find new jobs, and creditors get left with bad debts. Bankruptcy fundamentally happens because a firm's costs exceeded its revenues. What does this say about the value of the resources of the firm in their current activity compared to their next best alternative activity? From a social point of view, then, is bankruptcy such a bad thing? What are market forces telling the owner of the firm when the firm goes under? 21. It takes a wife 60 minutes to clean the house and 150 minute It takes the husband 200 minutes to clo the lawn