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Question 40

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Use the following to answer questions:
Figure: Rita's Time Allocation Budget Line Use the following to answer questions: Figure: Rita's Time Allocation Budget Line -(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time Allocation Budget Line. It is based on 80 hours available for labor and leisure. If her hourly wage doubles, the new time allocation budget line will have a point at _____ hours of leisure and _____ in income. A) 30; $1,000 B) 40; $400 C) 50; $700 D) 60; $280
-(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time Allocation Budget Line. It is based on 80 hours available for labor and leisure. If her hourly wage doubles, the new time allocation budget line will have a point at _____ hours of leisure and _____ in income.


A) 30; $1,000
B) 40; $400
C) 50; $700
D) 60; $280

Correct Answer:

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