EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Question
Chapter 6.2, Problem 2TTA
To determine
To ascertain:The way to allocate the individual’s work time between the home production and work in the market.
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Zoe is trying to decide how to divide her time between her job as a wedding photographer, which pays $32 per hour for as many
hours as she chooses to work, and as a fossil collector, in which her pay depends on both the price of fossils and the number of fossils
she finds. Earnings aside, Zoe is indifferent between the two tasks, and the number of fossils she can find depends on the number of
hours a day she searches, as shown in the table below:
a. Using this information, compute the lowest price that Zoe would accept per fossil in order to justify her spending more time
collecting fossils and less time working as a wedding photographer.
Instructions: Complete the table below. Enter your responses rounded to two decimal places.
Total
fossils
Lowest price Zoe
would accept per
Hours
per day
per day
fossil
11
15
4
18
5
20
2$
Chapter 6 Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Ch. 6.2 - Prob. 1TTACh. 6.2 - Prob. 2TTACh. 6.2 - Prob. 1MQCh. 6.2 - Prob. 2MQCh. 6.3 - Prob. 1TTACh. 6.3 - Prob. 2TTACh. 6.3 - Prob. 1MQCh. 6.3 - Prob. 2MQCh. 6.4 - Prob. 1TTACh. 6.4 - Prob. 2TTA
Ch. 6.5 - Prob. 1MQCh. 6.5 - Prob. 2MQCh. 6.5 - Prob. 3MQCh. 6.6 - Prob. 1TTACh. 6.6 - Prob. 2TTACh. 6.7 - Prob. 1MQCh. 6.7 - Prob. 2MQCh. 6.7 - Prob. 3MQCh. 6.7 - Prob. 4MQCh. 6 - Prob. 1RQCh. 6 - Prob. 2RQCh. 6 - Prob. 3RQCh. 6 - Prob. 4RQCh. 6 - Prob. 5RQCh. 6 - Prob. 6RQCh. 6 - Prob. 7RQCh. 6 - Prob. 8RQCh. 6 - Prob. 9RQCh. 6 - Prob. 10RQCh. 6 - Prob. 6.1PCh. 6 - Prob. 6.2PCh. 6 - Prob. 6.3PCh. 6 - Prob. 6.4PCh. 6 - Prob. 6.5PCh. 6 - Prob. 6.6PCh. 6 - Prob. 6.7PCh. 6 - Prob. 6.8PCh. 6 - Prob. 6.9PCh. 6 - Prob. 6.10P
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