Her salary rate is every hour

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Reference no: EM1326775

Solving labour function

Susan's utility function is U=(x+y)R^2; where x and y are the quntities of goods X and Y that she comsumes, and R is the number of hours of leisure that she has per day. Good X costs $4 and good Y costs $2 per unit. Her wage rate is $8 per hour nad she has 15 hours per day to allocate between labor and leisure.

She will:

a. consume equal amounts of X and Y

b. consume 10 units of units X

c. consume 20 units of Y

d. work 10 hours a day

e. consume twice as much of good X as of good Y

Reference no: EM1326775

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