Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and is paid $9 per hour. The following table shows her utility from different levels of leisure and income. Hours of Total Utility Marginal Utility of Total Utility from Income Utility from Work Income Marginal Leisure from Leisure Hours Leisure Income 5 18 45 35 34 10 06 135 10 59 15 48 15 77 20 56 20 180 86 25 60 25 225 92 30 65 30 270 98 35 69 35 315 103 40 72 40 360 107
Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and is paid $9 per hour. The following table shows her utility from different levels of leisure and income. Hours of Total Utility Marginal Utility of Total Utility from Income Utility from Work Income Marginal Leisure from Leisure Hours Leisure Income 5 18 45 35 34 10 06 135 10 59 15 48 15 77 20 56 20 180 86 25 60 25 225 92 30 65 30 270 98 35 69 35 315 103 40 72 40 360 107
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 1SCQ: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can...
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Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and is paid $9 per hour. The following table shows her utility from different levels of leisure and income.
Refer to the attached picture for the table.
1. Fill in the
2. What will be Terry’s total utility from both leisure and income when working 20 hours per week?
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