You’re deciding how many hours per week (on average) to study for this course. Suppose your only options are to study or work. Complete the following table given the specified expected letter grade from studying for the course. What is your marginal benefit from studying each additional hour per week? Enter your own grade expectations and complete the table again. If you could find a job paying $15 per hour, how many hours would you study per week based on this table?

Average hours of studying/week Expected course grade Hourly wage you’d be willing to work instead of each two additional hours of study time 2 F 4 D 6 C 8 B 10 A 12 A+

Learning Objective 2.2 Apply the core principles of economics to make good demand decisions.