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QUESTION 3 Based on the marginal decision rule, how many hours should Joe spend studying for his biology exam?
Chapter 6: Marginal Decision Rule 1. Joe Higgins is thinking about how much time to spend studying for a biology tomorrow. Us
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3001 MB= ML MC 20-T0 M B 3 2SandyTotal benefit Total Cost Marginal benehit Marginad Cart Hours O O So l00 l00 SO loo SO ISO 240 60 -tudy Hours 4 40 280 2study be less then 4 hour because at the point where MB=MC then MC>MB WILL BE THE STUDY HOURS

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