Question
Max has a function utility U=CR 3 andhas 100 hours per week to divide between work (L) and leisure (R). His nonlabor income is $40
Max has a function utility U=CR3andhas 100 hours per week to divide between work (L) and leisure (R). His nonlabor income is $40 per week and he is paid a wage of $10 per hour. How many hours will he choose to work (L) per week?
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Macroeconomics
Authors: Charles I. Jones
4th Edition
393603767, 393603768, 9780393616125 , 978-0393603767
