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 19 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
Thanks for the timely response, appreciate it

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Diet Soda's Consumption's Association with Increased (not Decreased) Prevalence of ... Diet Soda's Consumption's Association with Increased (not Decreased) Prevalence of ...
Paul Colin, Figure of a Woman. Paul Colin, Figure of a Woman.
Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ... Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ...
This battery shows a large “1000” on the front panel but this is the CA rating and not the ... This battery shows a large “1000” on the front panel but this is the CA rating and not the ...
This image shows the spread of droplets from an uncovered sneeze. This image shows the spread of droplets from an uncovered sneeze.
Monitoring shows that many forms of air pollution have decreased Monitoring shows that many forms of air pollution have decreased
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library