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Business, 04.07.2020 02:01 kellyzeissss9134

Consider the simple leisure model in which the individual chooses between leisure (L) and money income (M). The marginal utility of leisure (MUL) is 15 and the marginal utility of money (MUM) is 3. At the optimum, the wage rate: a. $45
b. $0.20
c. $5
d. $15

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