Question
Mark likes to eat pizzas and watch TV. In order to buy pizzas, he is looking for a job that pays him a wage of
Mark likes to eat pizzas and watch TV. In order to buy pizzas, he is looking for a job that pays him a wage of $wper hour forL hours of labor. Since he can only work a maximum of 15 hours a day (Mark needs 9 hours of sleep to function) and he cannot watch TV while working, he needs to decide how to allocate his time between working and watching TV during the time when he is awake, which is always a tough decision. Specifically, Mark's utility from pizzas and TV is:
U (P,T) = 2ln (P) + ln (T)
where P is the number of pizzas and T is the number of hours he spends pn TV.
When Mark found a job that paid him $2/hour, he ate 2 pizzas and watched 5 hours watching tv a day.
Suppose that mark is eligible for $5 of food stamps per day. now how many hours will he spend watching television and how many pizzas will he eat?
P= ?
T= ?
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