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Homework answers / question archive / Consider an individual, Terry, who is trying to decide how to allocate 16 hours in her day

Consider an individual, Terry, who is trying to decide how to allocate 16 hours in her day

Economics

Consider an individual, Terry, who is trying to decide how to allocate 16

hours in her day.  Terry could earn $40 per hour in the market if she decides to work in a fast-paced architectural design office.  Her father has Alzheimer's Disease and lives with Terry.  The household receives $100 per dayfrom the Medicare to help care for Terry's father. Consider the impact of the COVID 19 pandemic on Terry's choices.  She still has her job, but she is working from home while at the same time caring for her father in a small, 2-bedroom apartment.  If she comes to you for advice, what would you recommend?  What are the tradeoffs when deciding to continue working from home or changing her work hours?  What are the OPPORTUNITY COSTS in this case?  

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