MrCog Has 18 Hours a Day to Divide Between Labor

question 30

Multiple Choice

Mr.Cog has 18 hours a day to divide between labor and leisure.If he has 16 dollars of nonlabor income per day and gets a wage rate of 7 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)7R + C = 142.
• B)C = 142 + 7R.
• C)7R + C = 16.
• D)R + C/7 = 184.
• E)C = 190 + 7R.

---

Definitions:

Reseller

An entity or person that buys products or services to sell them on, rather than to use or consume them personally.

Conviction

A firmly held belief or a legal judgement where someone is found guilty of a crime.

Mental Step

A cognitive phase in the decision-making or problem-solving process that involves mental activities such as thinking, understanding, or planning.

Skiing Clothing

Apparel designed specifically for skiing, including items that provide warmth, protection, and mobility.