The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

Question

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Answer 1

Question

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

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Answer 2

Question

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

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Answer 3

Question

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

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Answer 4

Question

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

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Answer 5

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 6

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 7

Chapter 71, Problem 1CYU

a)

To determine

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

Answer 8

a)

Expert Solution

Explanation of Solution

When C preferred to work more than 35 hours a week before the new law, he will make worse off after the execution of the law because after the law he works less. Therefore, he will earn less as well as consume less. This makes his utility worse off for him because before the execution of the law his spending and income are higher.

Answer 9

a)

Expert Solution

Answer 10

a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 13

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 14

b)

To determine

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

Answer 15

b)

Expert Solution

Explanation of Solution

If C preferred to work 35 hours a week before the execution of the law, then his utility will not be affected after the execution of the law because his utility including consumption and spending will not change after the law's execution.

Answer 16

b)

Expert Solution

Answer 17

b)

Expert Solution

Answer 18

Expert Solution

Answer 19

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 20

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 21

c)

To determine

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

Answer 22

c)

Expert Solution

Explanation of Solution

C cannot make better off his utility after the execution of a law that limits the number of working hours a week to 35 because it restricts him to work according to his will. Therefore, he will either make worse off or equally well-off after the execution of the law.

Answer 23

c)

Expert Solution

Answer 24

c)

Expert Solution

Answer 25

Expert Solution

Answer 26

Economics Concept Introduction

Introduction: Working hours are the hours which are allowed to work according to the limits and guidelines of the government.

Answer 27

Ch. 71 - Prob. 1CYU Ch. 71 - Prob. 2CYU Ch. 71 - Prob. 1MCQ Ch. 71 - Prob. 2MCQ Ch. 71 - Prob. 3MCQ Ch. 71 - Prob. 4MCQ Ch. 71 - Prob. 5MCQ Ch. 71 - Prob. 6MCQ Ch. 71 - Prob. 7MCQ Ch. 71 - Prob. 1FRQ

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

The circumstance if C made worse off when a new law limits the maximum number of hours he can work per week to 35.

Explanation of Solution

The circumstance if C is made equally well off when a new law limits the maximum number of hours he can work per week to 35.

Explanation of Solution

The circumstance if C made better off when a new law limits the maximum number of hours he can work per week to 35.

Explanation of Solution

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Chapter 71 Solutions