Opportunity cost is the cost of the alternative forgone;
The cost of Maria spending more time on her studies is the wages from working in the kitchen which she does not earn and vice versa
The correct values are as follows:
a. The maximum wages Maria could earn is $130
b. The grades she can expect if she works 10 hours each week is grade C
c. She should make a decision to either quit school or quit her job
d. To become a pharmacists, she should study more and quit her job
To become a restaurant owner/manager, she should develop her restaurant/managerial skills more at the
The reason for the above responses are as follows:
The known parameters are:
The number of hours of free time Maria has each day = 4 hours
The activities Maria can use the four hours for = Studying or working at the Wang's Chinese kitchen
The amount she can earn per hour working = $6.50 per hour
Question a. Required;
The maximum wages Maria could earn working 5 days a week
Solution;
Taking the each unit on the horizontal axis of the attached graph as one day. There are 5 units which equal 5 days
if she works for the five days, she spends all the available time working and she earns maximum wage on the graph which is $130The maximum wages Maria could earn if she works five days a week = $130
b. Required:
The grade she can expect by working 10 hours a week
Solution:
The number of hours available each week = 5 × 4 hours = 20 hours
If she works 10 hours each week, she spends the remaining 10 hours studying which is half of her available time
The grades she can expect by working 10 hours each week (half of her spare time) is giving by the value of the graph at the middle of the of half the length of the horizontal axis values which is grade C
c. Required:
The advice for Maria if she is earning $50 each week and is making Ds
Solution:
If Maria is earning $50 each week, the number of days she is working = One day
The number of days she spends reading = 4 days
In order to improve her grades, she should increase the number of days she spends reading, and therefore, she should spend more than 4 days or the 5 days reading and she should stop working and forgo the $50 for a grade C
Therefore;
Maria has to make a decision to either quit school or quit her job
d. Part of the question that can be included as seen from a similar question online is as follows;
The advice for her if she is interested in becoming a pharmacists or a restaurant owner/manager
If she is interested in becoming a pharmacist, she should stop working and focus on her studies; Quit her job
If she interested in becoming a restaurant owner or manager, she should spend less time reading and spend much of her time at the Wang's Chinese kitchen to develop are restaurant business skills;
Learn more about the production possibility curve here:
here;https://brainly.com/question/15520789
