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Larry is a hard-working college senior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his economics course, He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day, He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Use the table to answer the following questions. The marginal, or additional, gain from Larry's second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Larry's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Larry's economics course gives him some advice. "Based on past expenence," the teaching assistant says, "working on 15 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent workong on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O 4 hours working on problems, O hours reading

Larry is a hard-working college senior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his economics course, He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day, He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Use the table to answer the following questions. The marginal, or additional, gain from Larry's second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Larry's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Larry's economics course gives him some advice. "Based on past expenence," the teaching assistant says, "working on 15 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent workong on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O 4 hours working on problems, O hours reading

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 7SCQ: Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at...
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4. A decision at the margin Larry is a hard-working college senior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his economics course, He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Lise the table to answer the following questions. The marginal, or additional, gain from Larry's second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Larry's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Larry's economics course gives him some advice. "Based on past expenience," the teaching assistant says, "working on 15 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent workong on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours workang on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O4 hours working on problems, O hours reading
Transcribed Image Text:4. A decision at the margin Larry is a hard-working college senior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his economics course, He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Lise the table to answer the following questions. The marginal, or additional, gain from Larry's second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Larry's fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Larry's economics course gives him some advice. "Based on past expenience," the teaching assistant says, "working on 15 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent workong on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours workang on problems, 2 hours reading O 3 hours working on problems, 1 hour reading O4 hours working on problems, O hours reading
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