The Number of Hours That a Worker Is Willing to Work

question 88

Multiple Choice

The number of hours that a worker is willing to work is determined by the trade-off between the increasing

• A)Total utility of income and the decreasing marginal utility of leisure.
• B)Value of leisure time and the decreasing marginal utility of income.
• C)Total utility of leisure and the decreasing total utility of income.
• D)Marginal utility of both income and leisure.

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Definitions:

Wholesalers

Businesses that purchase goods in large quantities from manufacturers or distributors and then sell them in smaller quantities to retailers or other businesses.

Wholesaler

A type of business that purchases goods in large quantities from manufacturers or importers and sells them to retailers, other wholesalers, or occasionally to final consumers.

Intermediary

A person or organization that acts as a mediator or agent between parties, especially in a business or financial transaction.

Ownership

The legal right to possess, use, and dispose of something; often refers to the possession of assets.