Mr Cog in Problem 7 Has 18 Hours a Day

question 22

Multiple Choice

Mr. Cog in Problem 7 has 18 hours a day to divide between labor and leisure. If he has 13 dollars of nonlabor income per day and gets a wage rate of 17 dollars per hour when he works, his budget equation, expressing combinations of consumption and leisure that he can afford to have, can be written as

• A) 17R + C = 13.
• B) 17R + C = 319.
• C) R += 421.
• D) C = 319 + 17R.
• E) C = 358 + 17R.

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