Solution Found!
In Figure 12–1 , suppose the total achievement curve can be described as Achievement , so the marginal-benefit curve for teachers can be described as marginal bene?t . a. Compute the ef?cient number of teachers for the following teacher wages: {6, 10}. b. Illustrate with a graph like the one shown in Figure 12–1. c. If you know calculus, show how we go from the expression for achievement to the expression for marginal bene?t.
Chapter 12, Problem 4(choose chapter or problem)
Efficient Number of Teachers
In Figure 12–1, suppose the total achievement curve can be described as Achievement \(=120 \cdot t^{1/2}\), so the marginal-benefit curve for teachers can be described as marginal benefit \(=60/t^{1/2}\).
(a). Compute the efficient number of teachers for the following teacher wages: {6,10}.
(b). Illustrate with a graph like the one shown in Figure 12–1.
(c). If you know calculus, show how we go from the expression for achievement to the expression for marginal benefit.
Questions & Answers
QUESTION:
Efficient Number of Teachers
In Figure 12–1, suppose the total achievement curve can be described as Achievement \(=120 \cdot t^{1/2}\), so the marginal-benefit curve for teachers can be described as marginal benefit \(=60/t^{1/2}\).
(a). Compute the efficient number of teachers for the following teacher wages: {6,10}.
(b). Illustrate with a graph like the one shown in Figure 12–1.
(c). If you know calculus, show how we go from the expression for achievement to the expression for marginal benefit.
ANSWER:Step 1 of 8
The total achievement curve can be described as Achievement \(= 120 \cdot {t^{\frac{1}{2}}}\), so the marginal-benefit curve for teachers can be described as a marginal benefit \(= \frac{{60}}{{{t^{\frac{1}{2}}}}}\).