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Theresa is endowed with 168 hours and $200 in non-labor income per week. She can earn $20 per hour. Her utility function of leisure and
Theresa is endowed with 168 hours and $200 in non-labor income per week. She can earn $20 per hour. Her utility function of leisure and consumption is U(L,C) = L4C. I suggest that you draw the budget constraint and work through the utility maximization problem before answering the questions. How many hours will Theresa work (rounded to the nearest hour? Group of answer choices 26 168 84 Zero 1680 160
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