1. Kira's personal performance level in school, Q, is determined by how many hours she spends...

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1. Kira's personal performance level in school, Q, is determined by how many hours she spends on school work, W, and sleeping, S, in a given day. We can represent her performance level using the following production function: Q=wisi. Answer the following: (a) To get an A in her classes, Kira has found that she needs a personal performance level of at least 10. Draw an isoquant curve for a performance level of Q = 10 by placing sleep, S, on the x-axis and school work, W, on the y-axis. To simplify, compute W for the points S= [5,8, 10, 15, 20] and connect the dots. (b) Given that there are 24 hours in a day, provide a representation of this constraint on your graph. Kira wants to get an A in school, prefers at least 8 hours of sleep, and wants time to socialize outside of school work and sleep. Is this possible? (c) Find Kira's marginal productivity of work, sleep, and her MRTS of sleep for work (MP3/MPw). Along the isoquant you derived above (Q=10), below what level (in hours) of sleep does Kira's marginal productivity of sleep become greater than her marginal productivity of work? 1. Kira's personal performance level in school, Q, is determined by how many hours she spends on school work, W, and sleeping, S, in a given day. We can represent her performance level using the following production function: Q=wisi. Answer the following: (a) To get an A in her classes, Kira has found that she needs a personal performance level of at least 10. Draw an isoquant curve for a performance level of Q = 10 by placing sleep, S, on the x-axis and school work, W, on the y-axis. To simplify, compute W for the points S= [5,8, 10, 15, 20] and connect the dots. (b) Given that there are 24 hours in a day, provide a representation of this constraint on your graph. Kira wants to get an A in school, prefers at least 8 hours of sleep, and wants time to socialize outside of school work and sleep. Is this possible? (c) Find Kira's marginal productivity of work, sleep, and her MRTS of sleep for work (MP3/MPw). Along the isoquant you derived above (Q=10), below what level (in hours) of sleep does Kira's marginal productivity of sleep become greater than her marginal productivity of work?

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a To draw the isoquant curve for a performance level of Q 10 we need to compute the corresponding values of school work W for different levels of slee... View the full answer