Suppose You Are Considering Volunteering Some of Your Time at the Student

question 13

Essay

Suppose you are considering volunteering some of your time at the student government car wash fundraiser. You compute your utility schedule as follows: $$\begin{array} { | c | c | } \hline \text { Hour \# } & \text { TU } \\\hline 0 & 0 \\\hline 1 & 40 \\\hline 2 & 70 \\\hline 3 & 94 \\\hline 4 & 100 \\\hline 5 & 94 \\\hline\end{array}$$ Now suppose you discover the person you've been dying to go out with is going to work for five hours at the car wash.
(a) How will this change your utility schedule?
(b) How will this change your decision to volunteer?
(c) How do your answers to (a) and (b) relate to the law of supply? Explain.

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