They both can earn 10 an hour they both have non-labor, Ask an Expert

Economics

jenny has preferences given by the utility function U(C,L)=C^2L so that the slope of her indifference curve is -c/2L. Johnny has utility function U(C,L)=CL so slope of his indifference curve at any point is -C/L

1. which of them has the stronger prefrence for consumption over lesuire?

2. they both can earn 10$ an hour they both have non-labor income of 300$ per week and they have 110 hours per week of non sleeping time. Who would works the most hours also how much do each of them make per week?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9274499

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