Chapter 1: Problem 4

A computer systems engineer could paint his house, but it makes more sense for him to hire a painter to do it. Explain why.

Short Answer

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In conclusion, hiring a painter is the more economically sensible option for the computer systems engineer. This decision accounts for the opportunity cost of the engineer's time and allows him to focus on his professional expertise, while benefiting from the painter's specialization in achieving a faster and higher-quality result. By choosing to hire a painter, the engineer maximizes the benefits for both parties involved.

Step by step solution

Understand the Engineer's Abilities

First, let's acknowledge that the computer systems engineer is capable of painting his house. However, his area of expertise is not painting, and it would likely take him longer and be more challenging to accomplish this task than it would for a professional painter.

Consider the Opportunity Cost

Opportunity cost is the value of what is given up when making a decision. In this case, the engineer must account for the time and effort he would spend painting his house. This time could otherwise be spent working on computer systems projects or other professional tasks, which potentially provide higher income or value. In other words, by choosing to paint his house, he would miss the opportunity to work on tasks that align more with his core expertise.

Analyze the Benefits of Specialization

Specialization is when a person focuses on doing one thing very well, which often leads to improved efficiency and quality of output. The painter is an expert in their field and can provide a better painting result without the engineer needing to learn or practice painting skills for an extended period. Additionally, the painter could complete the task faster, meaning the engineer's house would be painted sooner than if he attempted the task himself.

Weigh the Cost and Benefits

As a computer systems engineer, the opportunity cost of taking time to paint his house himself may be greater than hiring a professional painter. By hiring a painter, he can remain focused on his area of expertise, allocate his time more efficiently, and ensure a higher-quality painting job. Furthermore, the painter will likely complete the job more quickly, allowing the engineer to enjoy the benefits of a freshly painted house sooner.

Conclusion

It makes more economic sense for the computer systems engineer to hire a painter for the job. This allows him to focus on his professional responsibilities and use his valuable time more efficiently, while the painter can provide a faster and higher-quality painting service. The engineer must weigh the opportunity cost of undertaking the painting task himself and take advantage of specialization to maximize the benefits for both parties.