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yawa3891 [41]
3 years ago
5

Remember, the budget constraint contains all possible combinations of consumption and leisure at a given wage, wealth, and price

. Say Adam sleeps 9 hours a day leaving him 15 hours each day to spend on either work or leisure, if the price of ice cream is $2, Adam's wage is 12$/hour, and his wealth is $10, what is the maximum amount of hours Adam can spend on leisure if he chooses to buy 17 cups of ice cream
Business
1 answer:
LenKa [72]3 years ago
6 0
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