Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

Problem:

Consider the following, and answer problems:

Brian is taking three courses in this semester: economics, statistics, as well as finance. He has decided to spend 19 hours per week studying (in addition to attending all his classes) and his aim is to maximize his average grade, which means maximizing total of his grades in three courses. The table which are shows Brian's estimate of relation between time spend studying and his grade for each course. Notice it is assumed that Brian will spend at least four hours per week studying each of three courses.

 

Grade in

Grade in

Grade in

Hours of Study

Economics

Statistics

Finance

4

68

63

64

5

76

72

71

6

83

80

77

7

87

85

83

8

90

88

87

9

92

90

90

10

94

91

92

11

95

92

94

12

96

93

95

13

96

94

95

a. Is this the constrained optimization problem or unconstrained optimization problem?

b. If Brian is going to use a total of 19 hours the week studying what is optimal mix of studying between the 3 courses? That is, how many hours will he devote to economics? To statistics? To finance?

c. What is maximum average grade Brian can earn if he studies 19 hours per week?

d. What if Brian chooses to spend 25 hours, more willingly than 19, studying? How does the optimal mix change? How does maximum average grade change?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M914009

Have any Question? 


Related Questions in Microeconomics

Assignmentreview the cba provided in the resources section

Assignment Review the CBA provided in the resources section between the Trustees of Columbia University and Local 2110 International Union of Technical, Office, and Professional Workers. Describe how this is similar to a ...

Micro economics paperyou have been given the responsibility

Micro Economics Paper You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products. Select your organizatio ...

Watch the video on the link belowthen answer the following

Watch the video on the link below. Then answer the following questions: 1. Would the incentives discussed in the video be able to work in a college setting? Why or why not? 2. Have you ever changed your behavior because ...

Assignment emerging economies and Assignment: Emerging Economies and Globalization

Assignment: Emerging Economies and Globalization Background Markets in developed economies are approaching saturation level. Therefore, MNCs are searching for new untapped markets in emerging countries such as India and ...

Assignmentin this assignment you will discuss the role of

Assignment In this assignment, you will discuss the role of entrepreneurship in improving the economic condition of countries and individuals and understand the manner in which this perception has spread around the world ...

Milestone projectmilestone one propose organization for

Milestone Project Milestone One: Propose Organization for Analysis In Module Three, you will select the organization you would like to analyze in part two of the final project using the U.S. Securities and Exchange Commi ...

Economics assignment1 multiple product pricinganswer the

Economics Assignment 1. Multiple Product Pricing: Answer the following about the pricing of multiple products: a. Icarus Medical Supplies produces adhesives that are used to reassemble broken bones. Pindrop Medical Produ ...

Assignmentthe paper is to be a properly formatted apa paper

Assignment The paper is to be a properly formatted (APA) paper that I expect will take at least 5 pages to do properly. It is to take the material discussed in the course and apply it to some issue or observation in your ...

Assignmentthe agile approach towards system analysis and

Assignment The agile approach towards system analysis and development emphasizes iterative and incremental development, in which requirements and solutions evolve through collaboration. Prepare a 1000 word essay on the r ...

Assignmentpart idirections read the prompts below and

Assignment PART I Directions: Read the prompts below and formulate a response of at least one half of one page in length for each question. Please show Your references on a reference page 1. Explain records checks. List ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen