Zoe is trying to decide how to divide her time between her job as a wedding photographer, which pays $25 per hour for as many hours as she chooses to work, and as a fossil collector, in which her pay depends on both the price of fossils and the number of fossils she finds. Earnings aside, Zoe is indifferent between the two tesks, and the number of fossils she can find depends on the number of hours a day she searches, as shown in the table below: a. Using this information, compute the lowest price that Zoe would accept per fossil in order to justify her spending more time collecting fossils and less time working as a wedding photographer Instructions: Complete the table below. Enter your responses rounded to the nearest penny (two decimal places) Hours per day 1 2 3 4 5 Total fossils per day 5 9 12 14 15 Lowest price Zoe would accept per fossil S S $ $ S b. The relationship between the lowest price and the number of fossils collected is called the [(Click to select)

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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Zoe is trying to decide how to divide her time between her job as a wedding photographer, which pays $25 per hour for as many
hours as she chooses to work, and as a fossil collector, in which her pay depends on both the price of fossils and the number of fossils
she finds Earnings aside, Zoe is indifferent between the two tasks, and the number of fossils she can find depends on the number of
hours a day she searches, as shown in the table below:
a. Using this information, compute the lowest price that Zoe would accept per fossil in order to justify her spending more time
collecting fossils and less time working as a wedding photographer
Instructions: Complete the table below. Enter your responses rounded to the nearest penny (two decimal places)
Lowest price Zoe
would accept per
fossil
Hours
per day
1
2
3
4
5
Total fossils
per day
5
9
12
14
15
$
S
S
S
S
b. The relationship between the lowest price and the number of fossils collected is called the [(Click to select)
.
Transcribed Image Text:Zoe is trying to decide how to divide her time between her job as a wedding photographer, which pays $25 per hour for as many hours as she chooses to work, and as a fossil collector, in which her pay depends on both the price of fossils and the number of fossils she finds Earnings aside, Zoe is indifferent between the two tasks, and the number of fossils she can find depends on the number of hours a day she searches, as shown in the table below: a. Using this information, compute the lowest price that Zoe would accept per fossil in order to justify her spending more time collecting fossils and less time working as a wedding photographer Instructions: Complete the table below. Enter your responses rounded to the nearest penny (two decimal places) Lowest price Zoe would accept per fossil Hours per day 1 2 3 4 5 Total fossils per day 5 9 12 14 15 $ S S S S b. The relationship between the lowest price and the number of fossils collected is called the [(Click to select) .
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