Worker a and Worker B Both Prefer to Work 8

question 9

Multiple Choice

Worker A and Worker B both prefer to work 8 hours a day when their hourly wage is $12 an hour. They are currently working 8 hours a day and getting $12 an hour. Another employer wants to employ them only 6 hours a day (and requires them to not work in another job) . Worker A will demand a higher wage to take the 6 hour job (compared to Worker B. when

• A) worker A has a more curved (bowed in) set of indifference curves.
• B) worker A has a less curves (less bowed in) set of indifference curves.
• C) worker A has a higher income elasticity of demand for leisure
• D) worker A has a higher income elasticity of demand for leisure.

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Definitions:

Outcome

The result of a single trial or realization of an experiment or random event.

P(A ∪ B)

The chance that either event A or event B, or both, will happen.

P(B | A)

The probability of event B occurring given that event A has already occurred, representing a conditional probability.

Finalists

The remaining candidates in a competition or selection process who have passed through preliminary rounds and are considered for the final award or decision.