=+B. Suppose that my tastes can be represented by u1c, ,2 5 200 ln , 1 c
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=+B. Suppose that my tastes can be represented by u1c, ,2 5 200 ln , 1 c while yours can be represented by u1c, ,, x2 5 100x ln , 1 c where , stands for leisure, c stands for consumption, and x stands for cheerfulness of your assistant. Suppose that, in the absence of working for you, I have 50 leisure hours and 10 units of consumption while you have 10 leisure hours and 100 units of consumption.
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Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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