Suppose That You Can Schedule a Worker for Up to 10

question 19

Multiple Choice

Suppose that you can schedule a worker for up to 10 hours per day.The total benefit and total cost functions are B(H) = 1200 × √H and C(H) = 200H.The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/√H and MC(H) = 200.How many hours should you schedule the worker?

• A) 9 hours
• B) 8 hours
• C) 4 hours
• D) 0 hours

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Definitions:

Industrialized Countries

Nations with significant industrial development, high levels of income per capita, sophisticated infrastructure, and advanced technological capabilities.

Hours Worked

The total time period that an employee spends performing tasks or activities related to their job during a specified period.

Per Capita GDPs

Measures the average economic output per person, calculated by dividing the Gross Domestic Product (GDP) of a region by its population; essentially the same as Per Capita Real GDP but may not be adjusted for inflation.

NICs

Newly Industrialized Countries, nations that are transitioning from primarily agricultural to more industrial and manufacturing-based economies.