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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume you are pursuing a bachelor’s degree and you have 40 hours to divide between work and school in a week. You choose the amount of time you spend on each based on the classes you take and the hours you request at work. The degree will take you 3 years to complete if you dedicate 40 hours a week and do not take summers off. Obviously, if you devote no time to school, you never get your degree.

Use the chart below to draw the Production Possibilities Frontier with work time on the Y axis and school time on the X axis.

	Time spent working	Time spent on school	Years needed to get a bachelor's degree
A	0	40	3
B	10	30	4.5
C	20	20	6
D	30	10	8
E	40	0	Never Complete

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