Solved

To Maximize Utility, an Individual Should Allocate Time So That

Question 144

True/False

To maximize utility, an individual should allocate time so that the marginal utility of the earnings from an hour spent working is equal to the marginal utility of an additional hour of leisure.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q9: Decisions about labor supply result from decisions

Q48: A leftward shift in the labor supply

Q94: At Hamill Manufacturing of Pennsylvania,highly skilled senior

Q139: John and Deanna are married, with two

Q140: Use the following to answer questions:<br>Figure: Davina's

Q147: Use the following to answer questions:<br>Figure: The

Q149: Use the following to answer questions:<br>Figure: Davina's

Q191: The marginal productivity theory of income distribution

Q213: An important assumption underlying the marginal productivity

Q261: The more work people do,all other things