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Wu's job pays $13/hour, and requires him to be at work at least 39 hours/week. He is allowed to work as much overtime (hours > 40/week) as he wants, and overtime pays "time-and-a-half" for hours worked > 40/week and s 60/week, and "double time" for hours worked > 60/week. He earns a weekly endowment of $188. What is the vertical value of the vertical intercept for Wu's choice set over (Leisure, $) bundles for a typical 168 hour week?

Wu's job pays $13/hour, and requires him to be at work at least 39 hours/week. He is allowed to work as much overtime (hours > 40/week) as he wants, and overtime pays "time-and-a-half" for hours worked > 40/week and s 60/week, and "double time" for hours worked > 60/week. He earns a weekly endowment of $188. What is the vertical value of the vertical intercept for Wu's choice set over (Leisure, $) bundles for a typical 168 hour week?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Wu's job pays $13/hour, and requires him to be at work at least 39 hours/week. He is allowed to work as much overtime (hours > 40/week) as he wants, and overtime pays "time-and-a-half" for hours worked > 40/week and s 60/week, and "double time" for hours worked > 60/week. He earns a weekly endowment of $188. What is the vertical value of the vertical intercept for Wu's choice set over (Leisure, $) bundles for a typical 168 hour week?
Transcribed Image Text:Wu's job pays $13/hour, and requires him to be at work at least 39 hours/week. He is allowed to work as much overtime (hours > 40/week) as he wants, and overtime pays "time-and-a-half" for hours worked > 40/week and s 60/week, and "double time" for hours worked > 60/week. He earns a weekly endowment of $188. What is the vertical value of the vertical intercept for Wu's choice set over (Leisure, $) bundles for a typical 168 hour week?
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