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Larry attends college and works part-time job in a grocery store. He can work up to 30 hours each week at his job, which pays
Larry attends college and works part-time job in a grocery store. He can work up to 30 hours each week at his job, which pays $9 per hour. The table below shows his utility from different levels of leisure and income. Larry's utility maximizing choice is to work for:
Hours of Leisure | Total Utility from Leisure | Income | Total Utility from Income |
5 | 18 | 45 | 35 |
10 | 34 | 90 | 59 |
15 | 48 | 135 | 77 |
20 | 56 | 180 | 86 |
25 | 60 | 225 | 92 |
30 | 65 | 270 | 98 |
35 | 69 | 315 | 103 |
40 | 72 | 360 | 107 |
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