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Ms Katrina has eighteen hours available per day to allocate between Leisure and work. She has N$100 non-labour income and her wage rate per hour
Ms Katrina has eighteen hours available per day to allocate between Leisure and work. She has N$100 non-labour income and her wage rate per hour is NS25.00. a) Contract budget constraint equation b) Draw a budget line and make sure to include intercepts c) Calculate the slope of the budget line d) If Ms Katrina's utility function is what combination of Leisure hour and income that will help to maximize her utility
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