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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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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