Your total benefits from spending time with your spouse are shown in the following table. Hours per Day 0 5 Total Benefit 0 20 38 54 68 80 90 98 104 Alternatively, you have the option of working as many hours as you want, earning $11 per hour. Assume this is the next best use of your time. Use the marginal principle to find your optimal number of hours to spend with your spouse per day. The optimal amount of time for you to spend with your spouse is hours per day. (Enter your response as an integer.)

Your total benefits from spending time with your spouse are shown in the following table. Hours per Day 0 5 Total Benefit 0 20 38 54 68 80 90 98 104 Alternatively, you have the option of working as many hours as you want, earning $11 per hour. Assume this is the next best use of your time. Use the marginal principle to find your optimal number of hours to spend with your spouse per day. The optimal amount of time for you to spend with your spouse is hours per day. (Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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