Mr Cog Has 18 Hours Per Day to Divide Between

question 1

Multiple Choice

Mr. Cog has 18 hours per day to divide between labor and leisure. His utility function is U(C, R) = CR, where C is dollars per year spent on consumption and R is hours of leisure. If he has a nonlabor income of 40 dollars per day and a wage rate of 8 dollars per hour, he will choose a combination of labor and leisure that allows him to spend

• A) 184 dollars per day on consumption.
• B) 82 dollars per day on consumption.
• C) 112 dollars per day on consumption.
• D) 92 dollars per day on consumption.
• E) 138 dollars per day on consumption.

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Definitions:

Technetium

A radioactive chemical element with symbol Tc and atomic number 43, noteworthy for being the first element to be artificially produced.

Continuous Spectrum

A type of emission spectrum showing an uninterrupted band of colors from red to violet, typically emitted by an incandescent solid, liquid, or gas under pressure.

Wavelengths

The distance between consecutive peaks (or troughs) in a wave, often used in the context of electromagnetic radiation.

Ground State

The lowest energy state of an atom or other particle, which is the most stable and preferred configuration.