Refer to the figure below. If VMPmkt can be characterized by the equation VMPmkt = 50 - 2Hmkt, where Hmkt is the number of hours worked in the market, and VMPhome can be characterized by the equation VMPhome = 45 - 3Hhome, where Hhome is the number of hours worked at home, what is H* if there are a total of 40 hours to be worked between work and home?
Definitions:
Trading Partner
A country, group of countries, or an entity with which another conducts trade and business transactions.
Workforce
The total number of people employed or seeking employment in a country or specific sector.
Service Sector
The segment of the economy that provides intangible goods and services, such as healthcare, education, and financial services.
Trading Nation
A country whose economy is highly engaged in international trade, evidenced by a high ratio of exports and imports to its gross domestic product.
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