Patty delivers pizza using her own car, and she is paid according to the number of pizzas
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a. Use marginal analysis to determine Patty's optimal number of hours worked.
b. Calculate the total profit to Patty from working 0 hours, 1 hour, 2 hours, and so on. Now suppose Patty chooses to work for 1 hour. Compare her total profit from working for 1 hour with her total profit from working the optimal number of hours. How much would she lose by working for only 1 hour?
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Step by Step Answer:
a We first need to work out Pattys marginal benefit and marginal cost of each additional hour worked ...View the full answer
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