Multiple Choice
Scott's wage is $25 per hour and he works 50 hours a week,which is his optimal labour supply at that wage.His marginal utility of 1 hour of leisure is equal to the:
A) marginal utility he gets from $25 worth of goods.
B) marginal utility he gets from more than $25 worth of goods.
C) marginal utility he gets from less than $25 worth of goods.
D) substitution effect.
Correct Answer:
Verified
Correct Answer:
Verified
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