Question
1)Jade has midterms in economics and astronomy tomorrow and only has four hours left to study. The accompanying table provides the combinations of time spent
1)Jade has midterms in economics and astronomy tomorrow and only has four hours left to study. The accompanying table provides the combinations of time spent studying economics and astronomy and her expected exam scores.
Hour spent study economics Economic Exam Score Hours spent study Astronomy 0 60 0
1 80 1
2 90 2 3 95 3
4 98 4
Astronomy Exam Score
70
83
87
90
92
a) Create graph to plot the production possibilities frontier for Jade study options?
b) Suppose jade spends the first 2 hours studying economic. The opportunity cost of spending the third hour studying economic is: 3 or 4 or 5 or 6 point on her: economic or astronomy exam.
c) Suppose Jade's goal is to maximize her combined exam scores. Calculate how many hours she should spend studying economics and how many hours she should spend studying astronomy. Jade should spend: 3 or 0 or 1 or 2 or 3 hours studying economic and : 4 or 3 or 2 or 1 or 0 hours studying astronomy.
d) Suppose Jade's laptop dies and refuses to start up. All her notes and class materials (for both classes) are saved on its hard drive.
Jade's production possibilities curve will: not change or shift to the right or shift to the left because studying: becomes easier or is not affected or becomes more difficult.
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