Question
a. The final exam will be held 15 hours later. Ben has yet to study for it. Suppose an hour of study can increase the
a. The final exam will be held 15 hours later. Ben has yet to study for it. Suppose an hour of study can increase the score by 5 in the exam. (a) Draw the budget constraint of Ben. (Hint: good x is sleeping in hours, and good y is exam score) (b) The final exam is unexpectedly delayed for 5 hours. Do you think that ben's exam score must be higher? Explain your answer intuitively and graphically. (3/20) (c) Although the final exam is delayed for 5 hours, ben finds that some of the course materials are much more difficult than expected. For the first 10 hours, an hour of study can increase the score by 5. For the rest, an hour of study can increase the score by 3 only. Draw the new budget constraint of ben. (3/20) (d) Suppose ben choose to sleep for 10 hours in part c. Will ben be worse off in part d? Explain your answer intuitively and graphically.
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