An individual utility function is given by uch ch where c, Ask an Expert

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An individual utility function is given by U(c,h) = c.h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day. The real hourly market wage rate the individual can earn is w = $20. This individual receives daily government transfer benefits equal to n = $100. At the point at which this individual maximizes her utility level she works [l] hours.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91803377

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