Scott's Wage Is $25 Per Hour and He Works 50

question 115

Multiple Choice

Scott's wage is $25 per hour and he works 50 hours a week, which is his optimal labor supply.At his optimal labor supply, his marginal utility of one hour of leisure is equal to:

• A)the marginal utility he gets from $25 worth of goods.
• B)the marginal utility he gets from more than $25 worth of goods.
• C)the marginal utility he gets from less than $25 worth of goods.
• D)the substitution effect.

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Definitions:

Reactance

A psychological response wherein an individual experiences a negative reaction to being restricted from certain behaviors or thoughts.

Bad Influence

A negative effect or impact, usually from one person to another, leading to undesirable behaviors or attitudes.

One-Sided Argument

A presentation of an argument that solely represents one perspective or aspect of an issue, often neglecting opposing viewpoints.

Sleeper Effect

A delayed increase in the persuasive impact of a message, where an initially discounted message becomes more influential over time.