You have only 20 hours per week to use for either study time or fun time. Suppose the relationship between study time, fun time, and grades is shown in this table: bartelby learn Fun time (hours per week) 20 18 14 8 0 Study time (hours per week) 0 2 6 12 20 Grade point average 0 1.0 2.0 3.0 4.0 a. Draw the (linear) production possibilities curve on the graph below that represents the alternative uses of your time. b. On the same graph, show the combination of study time and fun time that would get you a 2.0 grade point average. c. What is the cost, in lost fun time, of raising your grade point average from 2.0 to 3.0? ________hours of fun time

Economics Today and Tomorrow, Student Edition
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Author:McGraw-Hill
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Chapter1: What Is Economics
Section: Chapter Questions
Problem 22AA
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You have only 20 hours per week to use for either study time or fun time. Suppose the relationship between study time, fun time, and grades is shown in this table: bartelby learn

Fun time (hours per week) 20 18 14 8 0
Study time (hours per week) 0 2 6 12 20
Grade point average 0 1.0 2.0 3.0 4.0

a. Draw the (linear) production possibilities curve on the graph below that represents the alternative uses of your time.

b. On the same graph, show the combination of study time and fun time that would get you a 2.0 grade point average.

c. What is the cost, in lost fun time, of raising your grade point average from 2.0 to 3.0?

________hours of fun time

 

d. What is the opportunity cost of increasing your grade point average from 3.0 to 4.0?

 

___________hours of fun time

 

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