ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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a) Chika has calculated the marginal utility that she derives from her paid employment and from leisure. This is presented in table
below. In her ideal world, where she could work as few or as many hours as she wished, how would she allocate her sixteen waking
hours? (She does need to sleep.)
Hours
1
2
3
4
5
6
7
8
9
10
MU Paid
Employment
105
95
85
75
65
55
45
35
25
15
MU
Leisure
100
90
80
70
60
50
40
30
20
10
hours working and
b) Unfortunately, Chika begins to realize that unless she gets an education she will not enjoy a high salary and therefore, will not be
able to afford more leisure time. She therefore decides to spend six hours each day studying (in addition to her eight hours of sleep).
How will she now divide the remaining hours between work and leisure?
hours working and
hours leisure.
hours leisure.
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Transcribed Image Text:a) Chika has calculated the marginal utility that she derives from her paid employment and from leisure. This is presented in table below. In her ideal world, where she could work as few or as many hours as she wished, how would she allocate her sixteen waking hours? (She does need to sleep.) Hours 1 2 3 4 5 6 7 8 9 10 MU Paid Employment 105 95 85 75 65 55 45 35 25 15 MU Leisure 100 90 80 70 60 50 40 30 20 10 hours working and b) Unfortunately, Chika begins to realize that unless she gets an education she will not enjoy a high salary and therefore, will not be able to afford more leisure time. She therefore decides to spend six hours each day studying (in addition to her eight hours of sleep). How will she now divide the remaining hours between work and leisure? hours working and hours leisure. hours leisure.
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