Consider the following problem for a student. Assume the student sleeps for 8 hours a day....

Consider the following problem for a student. Assume the student sleeps for 8 hours a day. The remaining 16 hours are to be allocated between study and leisure, other things equal. Let leisure be on the x-axis and study be on the y-axis. 1. Draw and label the axes appropriately and mark the point of origin. Then plot the straight line relationship between all possible combinations of study and leisure. 2. Calculate the slope of the line showing the relationship between study and leisure. Is the slope constant or does it vary? 3. On the graph mark the point that corresponds to 6 hours of leisure. Label it ‘A’. Assume that the student now needs only 4 hours of leisure a day. Label the new point ‘B’. Is that a movement along the curve? 4. Suppose the student sleeps fewer hours in the day and now has 18 hours to allocate between study and leisure, other things equal. Construct the new curve. Is this a shift or a movement along the curve? 5. Is there a positive or negative relationship between study and leisure?

Expert Solution

Answer :- In the below mentioned graph, x axis represents the leisure hours and y axis represents study hours while the straight lines represent the relationship between the various possible combination of study and leisure hours.

Answer:- The slope of the above graph represent the various combination of leisure hours and study hours.Maximum of 8 hours can be spent by the student on both the leisure time an study hours. But there can be some variations as there can be different combinations too.

Answer:- Point A reflects the 6 hours of leisure hours indicating that 10 hours can be spent on other activities apart from leisure while point B represent that only 4 hours are available for leisure and 12 ours can be used for other activities.

Answer:- If less hours are spent on sleeping , more time can be given on leisure and study. In the entire day maximum of 9 hours can be spent by the student. Thus there will be an upward shift in the curve but it is not necessarily require to move along with first possibility curve.

Answer:- There can bea negative relation between the study and leisure hours. If there isan increase of one leisure hour, it will reduce the study hour by 1 our and vice versa.

Rahul Sunny answered 1 year ago

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