A series of questions will rely on the following information describing Susan's decisions over working. Susan has 12 hours to allocate to labor or leisure. For each hour she works, she receives an after-tax wage of $5. She also receives $10/day in non-labor income. Susan's Labor-Leisure Choice C 110 ($) 100 90 00 80 20 70 60 60 60 50 40 30 20 10 0 2 U1 U2 U3 U4 5 7 9 10 11 At her optimal labor-leisure choice: How many hours will Susan work each day? [Select] How many hours of Leisure will Susan enjoy each day? What is Susan's consumption level? [Select] [Select] 12 L (hrs)
A series of questions will rely on the following information describing Susan's decisions over working. Susan has 12 hours to allocate to labor or leisure. For each hour she works, she receives an after-tax wage of $5. She also receives $10/day in non-labor income. Susan's Labor-Leisure Choice C 110 ($) 100 90 00 80 20 70 60 60 60 50 40 30 20 10 0 2 U1 U2 U3 U4 5 7 9 10 11 At her optimal labor-leisure choice: How many hours will Susan work each day? [Select] How many hours of Leisure will Susan enjoy each day? What is Susan's consumption level? [Select] [Select] 12 L (hrs)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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