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Here is the question: Don has to decide how many hours to work. He has 100 hours a week to split between work and leisure.
Here is the question:
Don has to decide how many hours to work. He has 100 hours a week to split between work and leisure. Suppose that the marginal product ratio for Don is described by the equation that follows. Use this information (in the attached photo) to answer all three questions below. Please round all numbers to the nearest whole number.
When his wage is $5.05, how many hours does Don work a week?
When Don's wage is $14.05, how many hours does he work?
If Lily works for the same wage as Don, what must be true for Lily ? (see the attached photo)
