Multiple Choice
Doug is currently not employed. He places a value of $16 an hour on his time in nonmarket activities. If Doug is offered a job paying $12 an hour,
A) he should supply 0 hours in the labor market.
B) he should supply a positive number of hours in the labor market and allocate no time to nonmarket activities.
C) he is indifferent between supplying hours to the labor market and using his time in nonmarket activities.
D) he should supply a positive number of hours in the labor market and to nonmarket activities.
Correct Answer:
Verified
Correct Answer:
Verified
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