Solved You Have 6 ï Hours To Study For 2 ï Exams Tomorrow The Chegg Use the rule for determining optimal purchase to decide how many hours you should study each subject. treat each point on an exam like 1 unit of utility and assume you are equally interested in doing well in economics and psychology. Use the rule for determining optimal purchases to decide how many hours you should study each subject. treat each point on an exam like 1 unit of utility and assume you are equally interested in doing well in economics and psychology.
Solved You Have 6 Hours To Study For 2 Exams Tomorrow The Chegg Suppose now that you are a psychology major and that you value each point you ean on a psychology exam as being worth three times as much as each point you earn on an economics exam. now how many hours will you study each subject? you should study economics for hours and psychology forhours. To determine the optimal number of hours to study for each subject, we need to calculate the marginal utility (additional points per additional hour of study) for each hour and allocate the 6 hours to maximize the total score. This economic rule suggests that resources should be distributed across options (in this case, study hours for two exams) until the marginal utility per unit of resource is equalized across all options. To determine the optimal allocation of study hours, you can use the rule of marginal utility. the rule suggests allocating study hours between subjects in a way that maximizes the total utility gained from each additional hour of study.
Solved You Have 6 Hours To Study For 2 Exams Tomorrow The Chegg This economic rule suggests that resources should be distributed across options (in this case, study hours for two exams) until the marginal utility per unit of resource is equalized across all options. To determine the optimal allocation of study hours, you can use the rule of marginal utility. the rule suggests allocating study hours between subjects in a way that maximizes the total utility gained from each additional hour of study. Use the rule for determining optimal purchases to decide how many hours you should study each subject. treat each point on an exam like 1 unit of utility and assume you are equally interested in doing well in economics and psychology. your solution’s ready to go!. Use the rule for determining optimal purchases to decide how many hours you should study each subject. treat each point on an exam like 1 unit of utility and assume you are equally interested in doing well in economics and psychology. Since you have 6 hours to study and you're equally interested in both subjects, we want to find the optimal distribution of study time that maximizes your total score. We may assume that the marginal scores will be adjusted in this way, but he will be limited by time because he only has 6 hours to prepare. this is seen in the table below as four hours are allotted to economics and two hours are allotted to psychology.
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