MrCog Has 18 Hours Per Day to Divide Between Labor

question 72

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 19 dollars of nonlabor income per day and gets a wage rate of 15 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)15R + C = 19.
• B)15R + C = 289.
• C)R + C/15 = 379.
• D)C =289 +15R.
• E)C = 346 + 15R.

---

Definitions:

Parent

An individual who has begotten or bears and/or raises a child, playing a significant role in their development.

Sense Of Self

An individual's perception and awareness of their own identity, personality, and existence.

Loss Of A Parent

The experience and emotional process following the death of a parent, significantly impacting an individual’s psychological state and life.

Influences

The power to have an important effect on someone or something, often leading to changes in behavior or outcomes.