Answer:
X = 789.70
Explanation:
we solve for X considerign each deposit is discounted at the given rate using the lump sum formula:
X = 789.7018868
Answer: The efficient outcome is to have the security system installed. After the meeting the security system will <em><u>be installed</u></em>, which illustrates the <em><u>free rider problem.</u></em>
Free rider is the burden on resource which is been shared, the problem is created by its usage or over-exploitation by individual who aren't paying their fair share.
∴ Here Tom is a free rider. i.e. He is willing to pay $100 where he should've paid $250.
A wage is a monetary compensation paid to a worker or an employee for the work done or service provide. In a firm or a factory there are two types of labor namely direct labor and indirect labor. Direct labor are the workers on the production line whose efforts directly produce what the company manufactures while indirect labor are all the other workers such as the watchman or security guard. In this case, the wages of a timekeeper would be classified as indirect labor.
