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Christina wants to work exactly 12 hr/wk to supplement her graduate fellowship. She can either work as a clerk in the library at $6.00/hr or tutor first-year graduate students in economics. Pay differences aside, she is indifferent between these two jobs. Each of three first-year students has a demand curve for tutoring given by P= 11 - Q, where P is the price in dollars per hour, and Q is the

Christina wants to work exactly 12 hr/wk to supplement her graduate fellowship. She can either work as a clerk in the library at $6.00/hr or tutor first-year graduate students in economics. Pay differences aside, she is indifferent between these two jobs. Each of three first-year students has a demand curve for tutoring given by P= 11 - Q, where P is the price in dollars per hour, and Q is the

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Christina wants to work exactly 12 hr/wk to supplement her graduate fellowship. She can either work as a clerk in the library at $6.00/hr or tutor first-year graduate students in economics. Pay differences aside, she is indifferent between these two jobs. Each of three first-year students has a demand curve for tutoring given by P= 11 - Q, where P is the price in dollars per hour, and Q is the number of hours per week. If Christina has the option of setting a two-part tariff for her tutoring services, how many hours per week should she tutor and how many hours should she work in the library? If she does any tutoring, what should her rate structure be? Instructions: Round your answer to the nearest whole number. Hours per week tutoring: Hours per week in library: Instuctions: Round your answers to the nearest penny (2 decimal places). Tutoring Rate Structure: Fixed fee = $ ; Hourly fee = $ 12 6
Transcribed Image Text:Christina wants to work exactly 12 hr/wk to supplement her graduate fellowship. She can either work as a clerk in the library at $6.00/hr or tutor first-year graduate students in economics. Pay differences aside, she is indifferent between these two jobs. Each of three first-year students has a demand curve for tutoring given by P= 11 - Q, where P is the price in dollars per hour, and Q is the number of hours per week. If Christina has the option of setting a two-part tariff for her tutoring services, how many hours per week should she tutor and how many hours should she work in the library? If she does any tutoring, what should her rate structure be? Instructions: Round your answer to the nearest whole number. Hours per week tutoring: Hours per week in library: Instuctions: Round your answers to the nearest penny (2 decimal places). Tutoring Rate Structure: Fixed fee = $ ; Hourly fee = $ 12 6
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