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 71 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
Excellent

TheDev123

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

« previous next »
 

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

The meninges. This figure illustrates the location and structure of each layer of the meninges and t The meninges. This figure illustrates the location and structure of each layer of the meninges and t
Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on
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
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Drawing shows what is occurring electrically at each part of the scope pattern. Drawing shows what is occurring electrically at each part of the scope pattern.
Video: Structures that affect circulation - heart and MABP

For a complete list of videos, visit our video library