Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 1 - Appendix - Using Graphs and Percentages - Exercises - Page 26: A.1d

Answer

6 additional hours

Work Step by Step

Because the cost increases by \$5 for each additional hour, spending an additional \$30 will provide 6 ($\$30\div6$) additional hours. $Slope=\frac{\Delta y}{\Delta x}$ $5=\frac{30}{\Delta x}$ $5\div5\times\Delta x=\frac{30}{\Delta x}\div5\times\Delta x$ $\Delta x=6$
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