1. Suppose that you only have 2 classes this semester: intermediate microeconomics and nuclear physics. Your...

1. Suppose that you only have 2 classes this semester: intermediate microeconomics and nuclear physics. Your grade in each class is positively related to the number of hours you spend studying for that class each week. Your grade in the economics class is given by G_E = 2 + 0.2E - 0.005E² where GE is your grade on a 4-point scale and E is the number of hours you study for the economics class. Your grade in the physics class is given by G_P = 1 + 0.25P - 0.005P² where P is the number of hours you study for the physics class. You only have 20 hours per week to allocate between these two classes.

a. How should you allocate your time between the two classes to maximize your average grade for the two courses? Use a Lagrangian to solve this problem.

b. How would your average grade change if you got an extra hour to study?

Solutions

Expert Solution

The question gives two equations for marks obtainable by a student in each subject dependent on the number of hours studied. However, there is a constrain of 20 hours a week to allocate this time and maximise the total grade obtained (adding of the two equations). We use Lagrange to solve this question as follows-b)

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Guessing the class average game: Suppose we have 30 students enrolled in intermediate microeconomics class and...

Guessing the class average game: Suppose we have 30 students enrolled in intermediate microeconomics class and everyone participates in the game to guess the class average. Each student can pick an integer between 0 and 100( with 0 and 100 included), whoever picks the number that is closest to the class average( calculated from all the guessed numbers) will be the winner(s). What is (are) the Nash Equilibrium( Equilibria) for this game? Explain.(1 point) Guessing the 1/3 of class average...

suppose you have joined the navy and are stationed aboard the nuclear submarine seawolf. your boat...

suppose you have joined the navy and are stationed aboard the nuclear submarine seawolf. your boat has been assigned to conduct torpedo practice in the gulf of Mexico. you enter the practice area point A and travel 40 miles due eat. then you change direction by turning at an angle of 75 degrees northward. the submarine then travels for 30 miles in the new direction. How far is the current location of your submarine at point C from the entry...

Modern Physics: Solid State and Nuclear Physics You want to use the Hall Effect to determine...

Modern Physics: Solid State and Nuclear Physics You want to use the Hall Effect to determine if a particular sample of a semiconductor is n or p doped. a. Sketch the following configuration: the sample is placed flat on the page. The applied voltage source is attached such that the positive lead is nearest to the top of the page, and the negative near the bottom. The magnetic field goes into the page. Identify on your drawing the direction of...

This is microeconomics Suppose that as a consumer you have $34 per month to spend on...

This is microeconomics Suppose that as a consumer you have $34 per month to spend on munchies—either pizzas, which cost $6 each, or Twinkies, which cost $4 each. Create a set of marginal utility tables for each product, like the ones below. Remember that they must show diminishing marginal utility as more of each product is consumed. Create the corresponding set of total utility tables for each product. Graph the budget constraint with Pizzas on the horizontal axis and Twinkies...

In this question, use your new GUI classes to create a small application. You have 2...

In this question, use your new GUI classes to create a small application. You have 2 options: Write any small application of your choice, as long as it follows the rules that follow. Write the small UnitConversion application, which will be described for you. Option 1: Write your own application You can write any small application that you like, as long as: It uses your GUI classes, including: at least one checkbox, at least one group of 3 radio buttons,...

Suppose that in one of your classes you are given 20 questions, and are told that...

Suppose that in one of your classes you are given 20 questions, and are told that the final exam will consist of 8 of them. Suppose that the 8 that are chosen for the final are selected randomly. a) If you work out how to do 12 of the problems, what is the probability that you will be able to work at least 7 of those on the final? b) How many problems do you need to have worked out...

1. Suppose you are studying for the final exam. You have only one last hour to...

1. Suppose you are studying for the final exam. You have only one last hour to study either accounting, economics, or statistics. The marginal point per hour are 5, 3, and 4, respectively. Which subject should you study? (Assuming that you would pass all classes regardless of what you choose to study.) Accounting. Economics. Statistics. It does not matter. You would study either one of them. 2. Unit of Apples MU of Apple Unit of Oranges MU of Oranges 1st...

You and your friends have decided to take a trip after the semester ends to celebrate...

You and your friends have decided to take a trip after the semester ends to celebrate getting through your statistics class. Pick a departure point from a location that is close to your hometown (Denver, CO). You will find a list of ten different destinations for your trip below. ). So, you should have data for 12 different destination points. You need to collect some data online to find the distance between cities as well as the cost of airfare....

Male students at SCC last semester. You will use this data throughout the semester on your...

Male students at SCC last semester. You will use this data throughout the semester on your lab assignments. Student # Gender Height Shoe Age Hand 1 M 67 10 19 R 2 M 74 12 17 R 3 M 72 11.5 19 R 4 M 69 10 35 R 5 M 66 9 18 R 6 M 71 10.5 17 R 7 M 72 10.5 17 R 8 M 66 10 20 R 9 M 67 10 18 R 10...

1. Describe the discipline of economics and the difference between macroeconomics and microeconomics. 2. If you...

1. Describe the discipline of economics and the difference between macroeconomics and microeconomics. 2. If you are told that one country has a real GDP per capita of $20,000 and another country has a real GDP per capita of $40,000, explain what you know and don’t know about the differences in production and standard of living in those two countries. Make sure your answer shows that you understand exactly what real GDP per capita is!

Subjects