lectur5-page47

lectur5-page47 - My old mower was a 16 hp, gear box,...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
47 47 Time u Time itself is scarce. Do we ever have enough time? Think about that while you are taking a test. Or, while you are on vacation. How often have we wished for more time? Does time have a value? Can we put a price on time? Sure it does, and sure we can. I never thought I would ever consider paying someone to mow my lawn, but over the last few years I have entertained the thought. It takes me about two hours (time) to mow my KY-31 tall fescue lawn. In the spring, my lawn may require two mowings per week. What could I be doing with that time? How much is my time worth? Well, I didn’t decide to hire someone to mow my lawn, but I did purchase a newer and larger garden tractor.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: My old mower was a 16 hp, gear box, Allis-Chalmers with a 48 inch mowing deck. My new mower is a 25 hp, hydrostatic drive, 54 inch cut, Scotts (made by John Deere). The tighter turning radius on the new mower has virtually eliminated any hand trimming or push mowing(productivity gain), and I can have the lawn finished in one hour. I substituted a more productive, more expensive, modern machine for a less productive, older machine and cut my mowing labor and mowing time in half. I paid a price though. That Scotts was not cheap. But, I value my time more today than I did even 5 years ago. So, to me, the expensive machine was worth it....
View Full Document

Ask a homework question - tutors are online