Answer to Question #184640 in Microeconomics for Burnie Dennis

Question

What is Harry’s marginal cost of tennis if he plays 3hours a week

Answer 1

When Harry increases the time of playing tennis from 2 hours to 4 hours, then his grade in economics will fall to 75 percent from 78 percent. This implies that, as he plays the extra 2 hours he is sacrificing 3 points of his percent in economics. This means that, for playing 3 hours a week, his marginal cost is 1.5 percentage points for playing tennis.