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Graph of TB & TC from Hours Working: The graph below measures the benefits and costs from working, from the perspective of a worker. The variable Q stands for the number of hours the worker works, such that th horizontal axis measures the hours of work per week. On the assumption that they can choose their hours, the worker estimates a total benefit ( TB) from working according to the equation, TB = 1.335Q. (The value 1.335" might be interpreted as the hourly wage paid to the worker.) The worker estimates their total cost from working with the equation, TC Q(0.463)+Q°(0.027).(The TC of each Q might be interpreted as includir he displeasure of effort and exertion from working Q hours.) It can be assumed that TC > TB for all hours beyond point B (32.3). TB, TC 40 H 30 20 10-

Graph of TB & TC from Hours Working: The graph below measures the benefits and costs from working, from the perspective of a worker. The variable Q stands for the number of hours the worker works, such that th horizontal axis measures the hours of work per week. On the assumption that they can choose their hours, the worker estimates a total benefit ( TB) from working according to the equation, TB = 1.335Q. (The value 1.335" might be interpreted as the hourly wage paid to the worker.) The worker estimates their total cost from working with the equation, TC Q(0.463)+Q°(0.027).(The TC of each Q might be interpreted as includir he displeasure of effort and exertion from working Q hours.) It can be assumed that TC > TB for all hours beyond point B (32.3). TB, TC 40 H 30 20 10-

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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Graph of TB & TC from Hours Working: The graph below measures the benefits and costs from working, from the perspective of a worker. The variable Q stands for the number of hours the worker works, such that the horizontal axis measures the hours of work per week. On the assumption that they can choose their hours, the worker estimates a total benefit ( TB) from working according to the equation, TB = 1.335Q . (The value "1.335" might be interpreted as the hourly wage paid to the worker.) The worker estimates their total cost from working with the equation, TC = Q(0.463) +Q'(0.027). (The TC of each Q might be interpreted as including the displeasure of effort and exertion from working Q hours.) It can be assumed that TC > TB for all hours beyond point B (32.3). TB, TC 40 H 30 G 20 - 10- 10 20 30 40 According to the graphs of a worker's estimation of the costs and benefits from hours of working, the NB from working hours is greater than the NB of working hours. Point A corresponds to 32.3 hours. O A. 16.148; 32.296 O B. 32.296; 16.148 OC. 40 ; 32.296 O D. 40; 20
Transcribed Image Text:Graph of TB & TC from Hours Working: The graph below measures the benefits and costs from working, from the perspective of a worker. The variable Q stands for the number of hours the worker works, such that the horizontal axis measures the hours of work per week. On the assumption that they can choose their hours, the worker estimates a total benefit ( TB) from working according to the equation, TB = 1.335Q . (The value "1.335" might be interpreted as the hourly wage paid to the worker.) The worker estimates their total cost from working with the equation, TC = Q(0.463) +Q'(0.027). (The TC of each Q might be interpreted as including the displeasure of effort and exertion from working Q hours.) It can be assumed that TC > TB for all hours beyond point B (32.3). TB, TC 40 H 30 G 20 - 10- 10 20 30 40 According to the graphs of a worker's estimation of the costs and benefits from hours of working, the NB from working hours is greater than the NB of working hours. Point A corresponds to 32.3 hours. O A. 16.148; 32.296 O B. 32.296; 16.148 OC. 40 ; 32.296 O D. 40; 20
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