Dudley Has a Utility Function U(C, R)= C - (12

question 51

Multiple Choice

Dudley has a utility function U(C, R) = C - (12 - R) ², where R is leisure and C is consumption per day.He has 16 hours per day to divide between work and leisure.If Dudley has a nonlabor income of $20 per day and is paid a wage of $0 per hour, how many hours of leisure will he choose per day?

• A)9
• B)10
• C)11
• D)13
• E)12

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Definitions:

Dependent Clause

A group of words that contains a subject and a verb but does not express a complete thought, making it unable to stand alone as a sentence.

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