Indifference curve and the budget constant occurs

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Reference no: EM13737878

An increase in the fixed cost of working will ________ labor force participation and ________ hours of work (of those working before and after the increase in the fixed cost of working)

a. increase; increase

b. increase; decrease

c. decrease; decrease

d. decrease; increase

A worker is indifferent between job one lasting 4 hours a day, job two lasting 8 hours a day, and job three lasting 12 hours a day. Job two pays $10 an hour and tangency between the indifference curve and the budget constant occurs at 8 hours. One can conclude that

a. job one pays less per day but more per hour.

b. job three pays more per day and more per hour.

c. both A and B are true

d. neither A nor B are true

Reference no: EM13737878

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