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 40 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
Great answer, keep it coming :)

laurnthompson

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine
Older adults may grieve intensely over the loss of a person or situation that has been a part of the Older adults may grieve intensely over the loss of a person or situation that has been a part of the
The paleoanthropologist must understand these deformations in order to figure out which strata a fos The paleoanthropologist must understand these deformations in order to figure out which strata a fos
Some ignition coils are electrically connected, called married (top figure), whereas others use ... Some ignition coils are electrically connected, called married (top figure), whereas others use ...
Food security per person Food security per person
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Parathyroid hormone (bone resorption) & Calcitonin (bone deposition)

For a complete list of videos, visit our video library