Suppose that you can schedule a worker for up to 4 hours per day. The total benefit and total cost functions are B(H) = 300H −20H2 and C(H) = 500H +60H2 . The corresponding formulas for marginal benefit and marginal cost are MB(H) = 300 − 40H and MC(H) = 500 + 120H. For how many hours should you schedule the worker? (a) 1.25 hours (b) 0.8 hours (c) 4 hours (d) 0 hours

Suppose that you can schedule a worker for up to 4 hours per day. The total benefit and total cost functions are B(H) = 300H −20H2 and C(H) = 500H +60H2 . The corresponding formulas for marginal benefit and marginal cost are MB(H) = 300 − 40H and MC(H) = 500 + 120H. For how many hours should you schedule the worker? (a) 1.25 hours (b) 0.8 hours (c) 4 hours (d) 0 hours

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section: Chapter Questions

Problem 7QP

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