4. A decision at the margin Bob is a hard-working college freshman. One Tuesday, he decides to work nonstop until he has answered 250 practice problems for his math course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 100 10:00 AM 175 11:00 AM 225 Noon 250 Use the table to answer the following questions. The marginal, or additional, gain from Bob's second hour of work, from S9:00 AM to 10:00 AM, is problems. The marginal gain from Bob's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Bob's math course gives him some advice. "Based on past experience," the teaching assistant says, "working on 87.5 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O 4 hours working on problems, O hours reading
4. A decision at the margin Bob is a hard-working college freshman. One Tuesday, he decides to work nonstop until he has answered 250 practice problems for his math course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 100 10:00 AM 175 11:00 AM 225 Noon 250 Use the table to answer the following questions. The marginal, or additional, gain from Bob's second hour of work, from S9:00 AM to 10:00 AM, is problems. The marginal gain from Bob's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Bob's math course gives him some advice. "Based on past experience," the teaching assistant says, "working on 87.5 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O 4 hours working on problems, O hours reading
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:4. A decision at the margin
Bob is a hard-working college freshman. One Tuesday, he decides to work nonstop until he has answered 250 practice problems for his math course.
He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to
solve each problem.
Time
Total Problems Answered
8:00 AM
9:00 AM
100
10:00 AM
175
11:00 AM
225
Noon
250
Use the table to answer the following questions.
The marginal, or additional, gain from Bob's second hour of work, from S9:00 AM to 10:00 AM, is
problems.
The marginal gain from Bob's fourth hour of work, from 11:00 AM to noon, is
problems.
Later, the teaching assistant in Bob's math course gives him some advice. "Based on past experience," the teaching assistant says, "working on 87.5
problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover
the same number of pages during each hour they spend reading.
Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working
on problems, and how many should he have spent reading?
O 1 hour working on problems, 3 hours reading
O 2 hours working on problems, 2 hours reading
O 3 hours working on problems, 1 hour reading
O 4 hours working on problems, O hours reading
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