(Transcript of audio with descriptions. Transcript includes narrator headings and description headings of the visual content)
(Speaker)
The last portion of the problem asks if Hiro should work as a teacher or economic consultant.
(Description)
The following text is written:
Hiro owns and operates a small business that provides economic consulting services. During the year he spends 57 thousand dollars on travel to clients and other expenses. In addition, he owns a computer that he uses for business. If he didn’t use the computer, he could sell it and earn yearly interest of 100 dollars on the money created through this sale. Hiro’s total revenue for the year is 100 thousand dollars. Instead of working as a consultant for the year, he could teach economics at a small local college and make a salary of 50 thousand dollars.
c. Should Hiro continue working as a consultant, or should he teach economics instead?
(Speaker)
When making decisions, individuals choose the options that generate the greatest economic profit. For Hiro, he is clearly better off by being a teacher. He will find himself an additional 7 thousand 100 dollars by doing so.
(Description)
The following text is written below the previous one:
Hiro will choose the career that generates the largest economic profit. By operating his economic consulting services he is giving up a salary of 50 thousand dollars and lost interest earnings of 100 dollars. In other words, we would have an addition 7 thousand 100 dollars by choosing to teach economics instead.