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Suppose the relationship between your study time and your grade on a Economics midterm is given by the following table:
| If you study for | Your grade will be |
|---|---|
| 4 hours | 81 |
| 5 hours | 91 |
| 6 hours | 93 |
What is the "marginal grade improvement (MGI)" of the 5th hour of studying?
points
The marginal grade improvement of the 5th hour of studying would be the amount that the student's grade improved as a result of studying for 5 hours instead of 4.
What is the "marginal grade improvement (MGI)" of the 6th hour of studying?
points
The marginal grade improvement of the 6th hour of studying would be the amount that the student's grade improved as a result of studying for 6 hours instead of 5.
Why might the MGI be diminishing?
What is the opportunity cost of additional hours of studying?
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity
` 91-81`
Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity
` 93-91`
Box 3: Enter your answer as text. This question is not automatically graded.