4. A decision at the margin Suppose that Bella is a diligent first-year college student. One Sunday, she decides to start the day by working through 250 sample multiple choice problems to study for her statistics class. She starts work at 7:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she the hours pass, it takes her more time to solve the problems. Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Total Problems Solved 0 100 175 225 250 Use the table to answer the following questions. The marginal, or additional, gain from Bella's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Bella's fourth hour spent working, from 10:00 AM to 11:00 AM, is problems. problems. The following week, Bella's statistics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 87.5 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students are able to review lecture notes at a constant pace during each hour spent studying. 0 hours working on problems, 4 hours reading 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading 4 hours working on problems, 0 hours reading Given this information, in order to use her 4 hours of time spent studying to get the highest possible test score, how many hours should she have spent solving multiple choice problems, and how many hours should she have spent reviewing lecture notes?
4. A decision at the margin Suppose that Bella is a diligent first-year college student. One Sunday, she decides to start the day by working through 250 sample multiple choice problems to study for her statistics class. She starts work at 7:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she the hours pass, it takes her more time to solve the problems. Time 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM Total Problems Solved 0 100 175 225 250 Use the table to answer the following questions. The marginal, or additional, gain from Bella's second hour spent working, from 8:00 AM to 9:00 AM, is The marginal gain from Bella's fourth hour spent working, from 10:00 AM to 11:00 AM, is problems. problems. The following week, Bella's statistics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 87.5 multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume students are able to review lecture notes at a constant pace during each hour spent studying. 0 hours working on problems, 4 hours reading 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading 4 hours working on problems, 0 hours reading Given this information, in order to use her 4 hours of time spent studying to get the highest possible test score, how many hours should she have spent solving multiple choice problems, and how many hours should she have spent reviewing lecture notes?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:4. A decision at the margin
Suppose that Bella is a diligent first-year college student. One Sunday, she decides to start the day by working through 250 sample multiple choice
problems to study for her statistics class. She starts work at 7:00 AM and uses a table to keep track of her progress throughout the day. She notices
that as she the hours pass, it takes her more time to solve the problems.
Time
7:00 AM
8:00 AM
9:00 AM
10:00 AM
11:00 AM
Total Problems Solved
0
100
175
225
250
Use the table to answer the following questions.
The marginal, or additional, gain from Bella's second hour spent working, from 8:00 AM to 9:00 AM, is
The marginal gain from Bella's fourth hour spent working, from 10:00 AM to 11:00 AM, is
problems.
problems.
The following week, Bella's statistics faculty advisor gives her some advice. In all their years of teaching they claim to observe that working on 87.5
multiple choice questions boosts a student's test score by about the same amount as spending an hour reviewing lecture notes. For simplicity, assume
students are able to review lecture notes at a constant pace during each hour spent studying.
O 0 hours working on problems, 4 hours reading
1 hour working on problems, 3 hours reading
O 2 hours working on problems, 2 hours reading
O 4 hours working on problems, 0 hours reading
Given this information, in order to use her 4 hours of time spent studying to get the highest possible test score, how many hours should she have
spent solving multiple choice problems, and how many hours should she have spent reviewing lecture notes?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education