Problem 1: Earlier we noted that the rule for maximization set forth in the text contradicts some well honored traditional principles such as " Never give up", "Anything worth doing is worth doing well," or "Waste not. want not." Explain the contradiction for each of these rules
Problem 2: Many candidates for political office, particularly in local elections call for the increased government spending on public education. Ignoring the politics of the issue:
A. Is it possible for govt to spend too much on Education? Explain
B. How would you advise govt officials to determine how much to spend on education?
C. If a city govt has a given budget to spend on education, street repair police, how would you advise the govt to determine how to allocate these funds?