Celia Works as an Articling Student with a Large Law

question 7

Multiple Choice

Celia works as an articling student with a large law firm. Her wage increased from $30 per hour to $40 per hour. She can work up to 50 hours each week. The table below shows her utility from different levels of leisure and income. If Celia continues to work 50 hours per week after her raise, the raise will increase her utility by:

• A) 3
• B) 4
• C) 12
• D) 32

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Definitions:

Intangible Property

Refers to non-physical assets that hold value, such as intellectual property, trademarks, and copyrights.

Real Property

Land and anything permanently attached to it, such as buildings and trees.

Negotiable Document of Title

A legal document representing the ownership and entitlement to the possession of goods, which can be transferred by endorsement or delivery.

Law of Agency

A legal doctrine that describes the relationship between a principal and an agent, where the agent is authorized to act on behalf of the principal in dealings with third parties.