Utility Function for Consumption and Leisure by Homework Help Classof1

Utility Function for Consumption and Leisure

byHomework Help Classof1

Kobo ebook | May 2, 2013

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Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours. Her utility function is C*L, so that her marginal rate of substitution is C/L. Cindy receives $630 a week from her grand mom regardless of how much she works. What is her reservation wage?

Title:Utility Function for Consumption and LeisureFormat:Kobo ebookPublished:May 2, 2013Publisher:Classof1Language:English

The following ISBNs are associated with this title: