Vito attends college and works part-time job as a waiter. He can work up to 40 hours each week at his job, which pays $8 per hour. The table below shows his utility from different levels of leisure and income. Vito is currently working 20 hours per week. If Vito decides to work 30 hours instead, what will be his marginal utility loss from having less leisure?
a. 34
b. 24
c. 10
d. 18
a. 34
If Vito decides to work 30 hours instead, his marginal utility loss from having less leisure will be 34.
You might also like to view...
In the interest-rate-based transmission mechanism, a decrease in the money supply will
A) reduce investment, shift the aggregate demand function inward, and lower real Gross Domestic Product (GDP). B) reduce the rate of interest and the level of investment. C) increase the price level. D) shift the aggregate supply function inward and increase real Gross Domestic Product (GDP).
The exchange of goods and services directly without money is called:
a. creative destruction. b. barter. c. arbitration. d. currency trade. e. illegal trade.
Downward shifts are a. increases in both demand and supply
b. decreases in both demand and supply. c. increases in demand and decreases in supply. d. increases in supply and decreases in demand.
Education ____ create external benefits; it ______ provide a valuable signally function
a. Does; does b. Does, does not c. Does not; does d. Does not; does not