2) You are choosing how many hours to spend studying this weekend. Your total benefit as a function of hours spent studying in given in the table below. If you don't study you work as a babysitter for $20 an hour. No. of hours Total Benefit 1 $67 2 $126 3 $177 4 $220 5 255 6 $282 7 $301 8 312 8 $315 Table 2: Total benefit as a function of hours spent studying. 2a) How many hours do you study this weekend? 2b) Assume that you don't have to spend the whole hour studying or babysitting, i.e. quantities need not be integers. What is the formula (equation) for marginal benefit as a function of quantity? 2c) What is your marginal benefit from spending 3.5 hours studying over the weekend? Use the equation you derived in question above. 2d) Assume that you don't have to spend the whole hour studying or babysitting, i.e. quantities need not be integers. How many hours so you spend studying over the weekend? 2e) Suppose I don't know how much you get per hour baby sitting but I know that you work 7.5 hours this weekend. Assume your marginal benefits are captured by the equation you derived earlier. How can I calculate your hourly wage rate? 2f) Now suppose that your marginal benefits are given by the equation MB(Q") = 75 -8Q". Your total costs are given in the table below. Derive an equation for your marginal costs and find your optimal hours worked