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 57 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

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g
Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of
This January 1937 photo from Sneedville, Tennessee, shows Eunice Johns, age 9, and her husband, ... This January 1937 photo from Sneedville, Tennessee, shows Eunice Johns, age 9, and her husband, ...
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Basic Food Group Choices for a 1,200 Calorie Eating Plan Basic Food Group Choices for a 1,200 Calorie Eating Plan
Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo Self-crossing F2 plants to produce an F3 generation shows that there are two different genotypes amo
Video: Structures that affect circulation - heart and MABP

For a complete list of videos, visit our video library