How Fast toDrive? Suppose Duke is driving to a nearby town to attend a danceparty, and must
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How Fast toDrive? Suppose Duke is driving to a nearby town to attend a danceparty, and must decide how fast to drive. The marginal benefit of speed is the extra dance time he will get by drivingfaster, and the marginal cost is the additional risk of a collision. Themarginal-benefit curve is negativelysloped, and themarginal-cost curve is positively sloped as shown at right.
SupposeDuke's favorite dancepartner, Daisy, is grounded for makeup violations. Use your curves to show howDuke's chosen speed will change.
Use the line drawing tool to draw and label a new line that will result fromDaisy's absence.
Carefully follow the instructionsabove, and only draw the required objects.
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