5.5 Jerome moonlights: He holds down two jobs. The higher-paying job pays w, but he can work...

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5.5 Jerome moonlights: He holds down two jobs. The higher-paying job pays w, but he can work at most eight hours. The other job pays w*, but he can work as many hours as he wants. Show how Jerome determines how many total hours to work. Now suppose that the job with no restriction on hours was the higher paying job. How do Jerome’s budget constraint and behavior change?

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Microeconomics With Calculus

ISBN: 9780273789987

3rd Global Edition

Authors: Jeffrey M. Perloff

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