Assignment task: Suppose that you have a two-day weekend (32 hours after sleeping) to devote to reading chapters of your math textbook or watching reruns of South Park on DVD. Suppose that it takes you four hours to read one chapter of your math textbook, and an episode of South Park is one-half hour.
a. Draw your PPC for the weekend. Put episodes of South Park on the vertical axis and chapters of math on the horizontal axis.
b. What point would you choose? Why? Show on your graph from a.
c. What is the opportunity cost of one chapter of math?
d. How would the PPC change if you had a three-day weekend? Show graphically.