If you are at point C, what is the opportunity cost of increasing your chemistry score by studying one additional hour for the chemistry exam? fewer points on your economics exam.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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6

You have exams in economics and chemistry coming up and 5 hours
available for studying. The following table shows the trade-offs you
face in allocating the time you will spend in studying each subject.
Hours Spent Studying
Choice Economics Chemistry
A
5
0
B
с
D
E
F
4
3
2
1
0
7234 O
1
Midterm Score
Economics Chemistry
97
71
95
79
92
85
88
90
92
94
83
76
5
Use the multipoint curve drawing tool to plot a
production possibilities frontier showing the trade-off between your
economics grade and chemistry grade. Plot all choices A through F.
Properly label this curve.
Carefully follow the instructions above, and only draw the required
objects.
If you are at point C, what is the opportunity cost of increasing your
chemistry score by studying one additional hour for the
chemistry exam? fewer points on your economics exam.
CHE
Score on economics exam
100-
98-
96-
94
92-
904
88-
86-
84
82-
80-
78-
76-
71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
Score on chemistry exam
Q
✓
N
After plotting the final point of your multipoint curve, press
the Esc key or use a long press on the last point to end the
line.
Transcribed Image Text:You have exams in economics and chemistry coming up and 5 hours available for studying. The following table shows the trade-offs you face in allocating the time you will spend in studying each subject. Hours Spent Studying Choice Economics Chemistry A 5 0 B с D E F 4 3 2 1 0 7234 O 1 Midterm Score Economics Chemistry 97 71 95 79 92 85 88 90 92 94 83 76 5 Use the multipoint curve drawing tool to plot a production possibilities frontier showing the trade-off between your economics grade and chemistry grade. Plot all choices A through F. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. If you are at point C, what is the opportunity cost of increasing your chemistry score by studying one additional hour for the chemistry exam? fewer points on your economics exam. CHE Score on economics exam 100- 98- 96- 94 92- 904 88- 86- 84 82- 80- 78- 76- 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 Score on chemistry exam Q ✓ N After plotting the final point of your multipoint curve, press the Esc key or use a long press on the last point to end the line.
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