4 hours
Pham will work for 6 hours in cafe, then 5 hours in garage since they are paying him the second best payment. Hence he is left with 4 hour which he would like to spend at the bookstore since they are paying him more than daycare.
Pham can work as many or as few hours as she wants at the college bookstore...
Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she has just 18 hours per week that she can spend working at either the bookstore or at other potential jobs. One potential job, at a café, will pay her $12 per hour for up to 7 hours per week. She has another job offer at a garage that will pay her $10 an...
Gina works at a diner. She has 100 hours each week to spend at labor/leisure, earns a wage of $15 per hour, and works in a fancy modern restaurant that doesn't involve tips from customers. She has no sources of non-labor income, but she does have to pay $200 per week in childcare for her precious baby Carlos (regardless of how many hours she actually utilizes the childcare). Her utility function is U 1. 0.001CL2 (3 points) Each week she...
18a 17. Cindy has $70 a month to spend, and she can spend as much time as she likes playing golf and tennis. The price of an hour of golf is $10, and the price of an hour of tennis is $5. The table shows Cindy's marginal utility from each sport. Hours per month Marginal utility from golf Marginal utility from tennis 40 80 Make a table that shows Cindy's affordable combi- nations of hours playing golf and tennis. If...
Rosa has 80 hours per week to devote to working or to leisure. She is paid an hourly wage and can work at her job as many hours a week as she likes. The following graph illustrates Rosa's leisure-consumption tradeoff. The three lines labeled BC1, BC2, and BC3 illustrate her time allocation budget at three different wages; points A, B, and C show her optimal time allocation choices along each of these constraints. CONSUMPTION (Dollars per week) 1,200 BC 800...
Irene earns 8 dollars an hour. She has no nonlabour income. She has 30 hours a week available for either labor or leisure. Her utility function is U(c, r) = cr2, where c is dollars worth of goods and r is hours of leisure. How many hours per week will she work? a. 8 b. 13 c. 15 d. 10 Please explain the answer step by steps. Thank you!
INCOME (Dollars) Kate has 80 hours per week to devote to working or to leisure. She is paid an hourly wage and can work at her job as many hours a week as she likes. The following graph illustrates Kate's weekly income-lelsure tradeoff. The three lines labeled BC, BC, and BC illustrate her time allocation budget at three different wages; points A, B, and C show her optimal time allocation choices along each of these constralints BC 1200 BC 800...
Cho is a hard-working college junior. One Saturday, she decides to work nonstop until she has answered 150 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time Total Problems Answered 8:00am 0 9:00am 60 10:00am 105 11:00am 135 Noon 150 1- Use the table to answer the following...
A freelance writer must choose how to spend her time working on several different types of projects. Newspaper stories take 3 hours to write and pay a flat rate of $45 per story. Magazine articles take much longer to write (25 hours) but pay significantly better ($400 per article). Proofreading is often tedious, but the writer can always find proofreading jobs that pay $20 per hour. The writer wants to maximize her income, but doesn't want to work more than...
Hours playing Hours golf playing tennis 70 2 10 12 T14 Q6 Cindy has $70 a month to spend, and she can spend as much time as she likes playing golf and tennis. The price of an hour of golf is $10, and the price of an hour of tennis is $5. The table shows Cindy's marginal utility from each sport. a) How many hours of golf and how many hours of tennis does she play to maximize her utility?...
Jade has midterms in economics and astronomy tomorrow and only has four hours left to study. The accompanying table provides the combinations of time spent studying economics and astronomy and her expected exam scores. Hours Spent Studying Economics Economics Exam Score Hours Spent Studying Astronomy Astronomy Exam Score 0 60 0 70 1 80 1 83 2 90 2 87 3 95 3 90 4 98 4 92 a. Use a graph to plot the production possibilities frontier for Jade's...