Answered You can hire a professional tutor to get the answer.

QUESTION

If someone has y=$400 non labor income and a total 150 hours to allocate between work and leisure, w=$10/h. Would his budget constraint be

If someone has y=$400 non labor income and a total 150 hours to allocate between work and leisure, w=$10/h. Would his budget constraint be C=400+(150-L)*10? how to determine the slope of this budget constraint? and how to solve the optimal desired hours of leisure and work? Thanks.

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question