2. Suppose that Dwayne is a sports psychologist and earns his income by giving private sessions for...
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2. Suppose that Dwayne is a sports psychologist and earns his income by giving private sessions for $200 per hour. Assume that Dwayne can see as many clients that he wants to
(sessions are one hour each). The price of consumption is $1 per unit. His income and time constraints are X=2ooh 24 = h +Z Dwayne also has a utility function over consumption and leisure defined as U=X+ 200Z Which means that the marginal rate of substitution is MUz 200 MRS=--=-= 200
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Economics And The Sports Industry Theory And Applications
ISBN: 9781792427442
1st Edition
Authors: Corey H. Van De Waal
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