I missed my last Microeconomics class due to travel plans and have no idea how to set up this problem. Could you possibly help me get started on this or send me an explanation of a similar problem?
Here it is:
Maria can read either 20 pages of economics or 50 pages of sociology in an hour. She spends 5 hours per day studying.
a. Graph her production possibilities frontier per day for reading these subjects.
b. What is Maria’s opportunity cost for reading 100 pages of sociology? Explain.