Jen's nonlabor income is V=$83 per week and her total time available in the week is T= 110 hours. Her marginal utility of leisure is MUL = 45/ L0.3, and her marginal utility of consumption is MUc 5/C0.4, What is her reservation wage? (please keep 1 decimal point)

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: what about question g

A: Equilibrium price is a fundamental concept in economics that refers to the price at which the…

Q: The solution provided does not match the one on top, how do you actually solve it?

A: Inverse Demand Function is given as ;- P(Q)=845-2Q     ; Total output Q=q1+q2 There are two firms…

Q: Where did the $98 come from?

A: Deadweight loss can be described as the loss of total welfare or the social surplus because of…

Q: What is the matter economic

A: Discussing the "matter" of economics involves exploring its fundamental components and core…

Q: solve all plea

A: Hi there , as per our guidelines we can solve only 1 question at a time . So we are solving Ques 2-2…

Q: A pharmaceutical corporation has developed a unique new drug, making the company a monopoly. Demand…

A: For a monopoly, profit maximization occurs at the point where MR equals MC

Q: Question 2: Assume that apples are produced in a perfectly competitive market. Columbia's Orchard is…

A: a. In a competitive market the demand curve is the fixed at market price. That is, the price line is…