subject
Business, 20.06.2020 20:57 nateconn9227

31. Consider a worker with a utility function given by the equation U = Y , where Y is total income and U is the level of utility. Assume the individual receives no nonlabor income. *31a. Suppose that Job A pays $5 per hour and involves working 5 hours per day every day during the year. What is the level of utility the person will attain on a daily basis? What will be the average level of utility attained (per day) during the year? *31b. Suppose that Job B also pays $5 per hour but involves working 2 hours per day 50% of the year, and 8 hours per day the other 50% of the year. How many work hours will the person average (per day) during the year? *31c. What level of utility will be attained during the 2-hour days? What level of utility will be attained during the 8-hour days? What will be the average level of utility attained (per day) during the year? *31d. Will the typical worker prefer Job A or Job B? *31e. What wage must the firm with the less desirable schedule pay to just make their job comparable to the job with the more desirable schedule? What would the compensating differential be for accepting the less desirable schedule?

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 13:00
Apopular low-cost airline, parson corp., has gone out of business. although the service and price provided by the airline was what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war. which component of the competitive environment does this illustrate? a) threat of new entrants b)competitors c) economic factors d) customers d) regulators
Answers: 1
question
Business, 22.06.2019 15:20
Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.
Answers: 1
question
Business, 22.06.2019 19:10
Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.
Answers: 3
question
Business, 23.06.2019 01:30
Should i run away or get a boyfriend and be loved again
Answers: 3
You know the right answer?
31. Consider a worker with a utility function given by the equation U = Y , where Y is total income...
Questions
question
Mathematics, 11.03.2020 22:14
question
Mathematics, 11.03.2020 22:15
Questions on the website: 13722367