Explain how studying for an exam is subject to the law of diminishing marginal productivity. The law of diminishing marginal productivity implies that the optimal amount of studying is however many hours will lead to your highest possible score. After this point, your performance falls and you should not study any more.  Assuming you organize your studying reasonably, you will focus on the parts of the text that are most likely to show up on the exam and most likely to raise your grade. As you study less relevant material, your additional time spent studying will yield fewer additional points on the exam. At some point, additional studying can have a negative return. The law of diminishing marginal productivity pertains to studying in a group only. If you study with one or two people, your grade will likely improve because they can teach you information you don’t know. However, at some point, as you add another person, the grades for everyone decline. The more and more time you devote to studying, the amount of time you have to devote to other things diminishes at the margin. This is true for any activity. That is, all activities are subject to diminishing marginal productivity.

Note: The solution should not be hand written.

Shen is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Valerie is a 26-year-old recent college graduate She did not work for pay last week, but she had two job interviews. Antonio is a 42-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago. Frances is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks. Dmitri is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home. Caroline is a 12-year-old student at East Valley Middle School. She babysits her younger brother and does other chores,…

You run a coffee shop that is open all day. You are considering staying open in the evening. The total benefit (i.e., revenue) from keeping your coffee shop open for each additional hour at night is shown in the table. Fill out the marginal benefit (the difference from one row to the next). (Enter your answers as a whole number. Include a negalive sign (-) if the answer is negalive but do not include a plus sign (+) if the answer is positive.) Hours per Night Total Benefit $0 Marginal Benefit 80 120 150 4 170 5 180 6 170