Willy is also a graduate student who spends his 24 hours on the same three tasks. The following table shows his marginal net benefit (i.e., the marginal benefit of a given hour net of costs): 1st (hour) 2nd 3rd 4th 5th 6th 7th 8th gth Research (in $) Sleep (in $) Teach (in $) 80 75 70 70 65 65 60 33 30 25 25 20 20 10 5 2 60 40 35 30 20 10 2 Willy maximizes his daily total net benefit. (i) On a given day, how many hours will Willy spend in each task? (ii) What is Willy's optimal daily total net benefit?

Willy is also a graduate student who spends his 24 hours on the same three tasks. The following table shows his marginal net benefit (i.e., the marginal benefit of a given hour net of costs): 1st (hour) 2nd 3rd 4th 5th 6th 7th 8th gth Research (in $) Sleep (in $) Teach (in $) 80 75 70 70 65 65 60 33 30 25 25 20 20 10 5 2 60 40 35 30 20 10 2 Willy maximizes his daily total net benefit. (i) On a given day, how many hours will Willy spend in each task? (ii) What is Willy's optimal daily total net benefit?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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