You have six hours to study for two exams tomorrow. The following table shows the relationship between
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a. Use the rule for determining optimal purchases to decide how many hours you should study each subject. Treat each point on an exam as 1 unit of utility and assume that you consider an extra point on an economics exam to have the same value as an extra point on a psychology exam.
b. Now suppose that you are a psychology major and that you value each point you earn on a psychology exam as being worth three times as much as each point you earn on an economics exam. Now how many hours should you study each subject?
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a Economics Psychology Hours Score Marginal Score Hours Score Marginal Score 0 54 0 54 1 62 8 1 ...View the full answer
Answered By
Jehal Shah
I believe everyone should try to be strong at logic and have good reading habit. Because If you possess these two skills, no matter what difficult situation is, you will definitely find a perfect solution out of it. While logical ability gives you to understand complex problems and concepts quite easily, reading habit gives you an open mind and holistic approach to see much bigger picture.
So guys, I always try to explain any concept keeping these two points in my mind. So that you will never forget any more importantly get bored.
Last but not the least, I am finance enthusiast. Big fan of Warren buffet for long term focus investing approach. On the same side derivatives is the segment I possess expertise.
If you have any finacne related doubt, do reach me out.
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