For a,b, and c, please draw a graph. Suppose there' sa relationship of the following sort between study time and grades: (a) (b) (c) (d) (c) 20 18 14 8 0 Fun time 0 26 12 20 0,1.0,2.0,3.0,4.0 Study time (hours per week) Girade point average If you have only 20 hours per week to use for either study time or fun time. (a) Draw the (linear) production possibilities curve on the graph below that represents the alternative uses of your time. (b) Indicate on the graph the point C that would get you a 2.0 grade average. (c) What is the cost, in lost fun time, of raising your grade point average from 2.0 to 3.0? Illustrate this effort on the graph (point C to point D ). And answer the boxes below for change in F/change in GPA. F= 20-S This is a linear equation like Y= a -X. The slope = -1. Linear = straight line. Place S on the horizontal axis and F on the vertical axis and then connect them with a straight line. GPA change in F/change in GPA 20 18 1 14 12 20 4 change in Flchange in GPA from 2.0 to 3.0 6 This is the opportunity cost of increasing GPA and the sacrifice is fun time.

For a,b, and c, please draw a graph. Suppose there' sa relationship of the following sort between study time and grades: (a) (b) (c) (d) (c) 20 18 14 8 0 Fun time 0 26 12 20 0,1.0,2.0,3.0,4.0 Study time (hours per week) Girade point average If you have only 20 hours per week to use for either study time or fun time. (a) Draw the (linear) production possibilities curve on the graph below that represents the alternative uses of your time. (b) Indicate on the graph the point C that would get you a 2.0 grade average. (c) What is the cost, in lost fun time, of raising your grade point average from 2.0 to 3.0? Illustrate this effort on the graph (point C to point D ). And answer the boxes below for change in F/change in GPA. F= 20-S This is a linear equation like Y= a -X. The slope = -1. Linear = straight line. Place S on the horizontal axis and F on the vertical axis and then connect them with a straight line. GPA change in F/change in GPA 20 18 1 14 12 20 4 change in Flchange in GPA from 2.0 to 3.0 6 This is the opportunity cost of increasing GPA and the sacrifice is fun time.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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