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Jack's marginal utility of consumption is MUC=L29, and the marginal utility of leisure is MU=L110. Jack does not have any nonlabor income, i.e., V=0. Jack
Jack's marginal utility of consumption is MUC=L29, and the marginal utility of leisure is MU=L110. Jack does not have any nonlabor income, i.e., V=0. Jack faces a $12 an hour wage rate. Jack's total number of hours available per week is 168 . What is Jack's optimal choice of hours of leisure? (calculate to 2 decimal places)
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