Business, 11.08.2021 22:50 golderhadashaowtatz

A worker views leisure and income as "goods" and has an opportunity to work at an hourly wage of $10 per hour. a. Illustrate the worker's opportunity set in a given 24-hour period.
b. Suppose the worker is always willing to give up $12 dollars of income for each hour of leisure. Do her preferences exhibit a diminishing marginal rate of substitution? How many hours per day will she choose to work?

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A worker views leisure and income as "goods" and has an opportunity to work at an hourly wage of $10...

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