Question

Question 11 Hours of Marginal Exercise Benefit Marginal Cost 1 30 7 2 25 8 3 20 12 4 17 14 5 15 16 6 13 18 7 11 20 2 pts Jim has 7 hours of time each week to spend exercising or doing other activities. The marginal cost and benefit of exercise according to Jim's own objectives are given in the table above. What is the best amount of exercise for Jim? 5 6 1 7 3 4 2

          Question 11
Hours of Marginal
Exercise Benefit
Marginal
Cost
1
30
7
2
25
8
3
20
12
4
17
14
5
15
16
6
13
18
7
11
20
2 pts
Jim has 7 hours of time each week to spend exercising or doing other
activities. The marginal cost and benefit of exercise according to Jim's own
objectives are given in the table above. What is the best amount of exercise
for Jim?
5
6
1
7
3
4
2

Question 11
Hours of Marginal
Exercise Benefit
Marginal
Cost
1
30
7
2
25
8
3
20
12
4
17
14
5
15
16
6
13
18
7
11
20
2 pts
Jim has 7 hours of time each week to spend exercising or doing other
activities. The marginal cost and benefit of exercise according to Jim's own
objectives are given in the table above. What is the best amount of exercise
for Jim?
5
6
1
7
3
4
2

Added by Christine B.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Syed Vasi

Step 1

Looking at the table, we can see that the marginal benefit starts at 30 for 1 hour of exercise and decreases by 2 for each additional hour. The marginal cost starts at 25 for 1 hour of exercise and increases by 2 for each additional hour. Show more…

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Hours of Exercise Marginal Benefit Marginal Cost 1 30 25 7 2 8 3 20 12 4 17 14 5 15 16 6 13 18 7 11 20 Jim has 7 hours of time each week to spend exercising or doing other activities. The marginal cost and benefit of exercise according to Jim's own objectives are given in the table above. What is the best amount of exercise for Jim? O 5 O 6 O 1 O 7 O 3 O 4 O 2