Willy is also a graduate student who spends his 24 hours on the same three tasks. The following table shows his marginal net benefit (i.e., the marginal benefit of a given hour net of costs): 1st (hour) 2nd 3rd 4th 5th 6th 7th 8th gth Research (in $) Sleep (in $) Teach (in $) 80 75 70 70 65 65 60 33 30 25 25 20 20 10 5 2 60 40 35 30 20 10 2 Willy maximizes his daily total net benefit. (i) On a given day, how many hours will Willy spend in each task? (ii) What is Willy's optimal daily total net benefit?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Willy is also a graduate student who spends his 24 hours on the same three tasks. The following
table shows his marginal net benefit (i.e., the marginal benefit of a given hour net of costs):
1st (hour)
2nd
3rd
4th
5th
6th
7th
8th
gth
Research (in $)
Sleep (in $)
Teach (in $)
80
75
70
70
65
65
60
33
30
25
25
20
20
10
5
2
60
40
35
30
20
10
2
Willy maximizes his daily total net benefit. (i) On a given day, how many hours will Willy
spend in each task? (ii) What is Willy's optimal daily total net benefit?
Transcribed Image Text:Willy is also a graduate student who spends his 24 hours on the same three tasks. The following table shows his marginal net benefit (i.e., the marginal benefit of a given hour net of costs): 1st (hour) 2nd 3rd 4th 5th 6th 7th 8th gth Research (in $) Sleep (in $) Teach (in $) 80 75 70 70 65 65 60 33 30 25 25 20 20 10 5 2 60 40 35 30 20 10 2 Willy maximizes his daily total net benefit. (i) On a given day, how many hours will Willy spend in each task? (ii) What is Willy's optimal daily total net benefit?
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