This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The above figure shows an indifference map for a person's choices between leisure and consumption. ... (Read 74 times)

melina_rosy

  • Hero Member
  • *****
  • Posts: 531
on: Jul 1, 2018
The above figure shows an indifference map for a person's choices between leisure and consumption. Derive this person's labor supply curve for wage rates of 5, 10, and 15.
 
  What will be an ideal response?

Question 2

The practice by a monopolist of charging each buyer the highest price he/she is willing to pay is called
 
  A) first-degree discrimination.
  B) second-degree discrimination.
  C) third-degree discrimination.
  D) fourth-degree discrimination.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mmj22343

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jul 1, 2018
Answer to Question 1

This person's labor supply curve is downward sloping. The three coordinates for w,H are approximately (5,14 ), (10,11 ), and (15,9 ).

Answer to Question 2

A


melina_rosy

  • Member
  • Posts: 531
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
A person with a defective "P" gene might only have it effect the Hair A person with a defective "P" gene might only have it effect the Hair
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
A Breathalyzer is used to measure a person's blood alcohol concentration (BAC) A Breathalyzer is used to measure a person's blood alcohol concentration (BAC)
Marriages and Families: Changes, Choices, and Constraints, 9th Edition Marriages and Families: Changes, Choices, and Constraints, 9th Edition
Video: Stretch reflex & Tendon reflex

For a complete list of videos, visit our video library