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what is the budget line for consumption and leisure if a person faces a constant wage of $5 per hour , there are 168 hours in the week to work,and she received non-labor income of 200 per week

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 17P

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Question

what is the budget line for consumption and
leisure if a person faces a constant wage of $5
per hour , there are 168 hours in the week to
work,and she received non-labor income of
200 per week

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Table 1-1 red 2.00 Hours Total Revenue tion Орen (dollars) $35 2. 60 80 4. 92 100 105 Eva runs a small bakery in the village of Roggerli. She is debating whether she should extend her hours of operation. Eva figures that her sales revenue will depend on the number of additional hours the bakery is open as shown in the table above. She would have to hire a worker for those hours at a wage rate of $12 per hour. Refer to Table 1-1. Using marginal analysis, how many should extendI bakery's hours of operations Select one: O a. 3 hours O b. 2 hours Oc. 5 hours O d. 6 hours O e. 4 hours