Use the graph to plot the production possibilities frontier for Jade's study options. b. Suppose Jade spends the first two hours studying economics. The opportunity cost of spending the third hour studying economics __________ is points on her _______exam. c. Suppose Jade’s goal is to maximize her combined exam scores. Calculate how many hours she should spend studying economics and how many hours she should spend studying astronomy. Jade should spend _________hours studying economics and _________hours studying astronomy. d. Suppose Jade's laptop dies and refuses to start up. All her notes and class materials (for both classes) are saved on its hard drive. Jade's production possibilities curve will_______, because studying________

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Jade has midterms in economics and astronomy tomorrow and only has four hours left to study. The accompanying table provides the combinations of time spent studying economics and astronomy and her expected exam scores.

a. Use the graph to plot the production possibilities frontier for Jade's study options.

b. Suppose Jade spends the first two hours studying economics. The opportunity cost of spending the third hour studying economics __________ is points on her _______exam.
c. Suppose Jade’s goal is to maximize her combined exam scores. Calculate how many hours she should spend studying economics and how many hours she should spend studying astronomy.
Jade should spend _________hours studying economics and _________hours studying astronomy.
d. Suppose Jade's laptop dies and refuses to start up. All her notes and class materials (for both classes) are saved on its hard drive.
Jade's production possibilities curve will_______, because studying________
 

 

Hours Spent
Studying
Economics
0
1
2
3
4
Economics
Exam
Score
60
80
90
95
98
Hours Spent
Studying
Astronomy
0
1
2
3
4
Astronomy
Exam
Score
70
83
87
90
92
Transcribed Image Text:Hours Spent Studying Economics 0 1 2 3 4 Economics Exam Score 60 80 90 95 98 Hours Spent Studying Astronomy 0 1 2 3 4 Astronomy Exam Score 70 83 87 90 92
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