Charlie Can Work as Many Hours as He Wishes at a Local

question 70

Multiple Choice

Charlie can work as many hours as he wishes at a local fast-food restaurant for a wage of $4 per hour.Charlie also does standup comedy.Since Charlie lives in a quiet, rather solemn Midwestern town, he is the town's only comedian and has a local monopoly for standup comedy.The demand for comedy is Q = 40 - P, where Q is the number of hours of comedy performed per week and P is the price charged per hour of comedy.When Charlie maximizes his utility, he spends at least 1 hour per week working at the restaurant and he gets at least 1 hour of leisure time.His utility depends only on income and leisure.How many hours per week does he perform standup comedy?

• A)36
• B)40
• C)18
• D)20
• E)We can't tell without knowing his utility function.

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Definitions:

Sociology

The systematic study of human groups and their interactions.

Gramsci

An Italian Marxist philosopher and communist politician, Antonio Gramsci contributed significantly to political theory, especially in the areas of cultural hegemony and the state's role in preserving class structures.

Organized State Power

This concept involves the mechanisms, institutions, and structures through which a state enforces its regulations and achieves governance, highlighting the systematic arrangement of authority.

Armed Force

An organization or body, typically governmental, authorized to use weapons and violence for the purposes of defending the country and its citizens.