Prove that if leisure is an inferior good then labor supply

Reference no: EM13238141

consider the maximization problem u(c,l) subject to pc + wl = wT + Y, where c is consumption, l is leisure time, T is total time endowment, and Y is non-wage income. prove that if leisure is an inferior good then the labor supply function is upward-slopping.

Reference no: EM13238141

Questions Cloud

State species is resonance an important property : Explain for which of the following species is resonance an important property: HONO, HONO2, N3-, NO2-, NO2

Discuss the accomplishments of the sui and tang dynasties : Discuss the accomplishments of the Sui and Tang Dynasties. Present specific historical examples to support your comments.

Discuss the physical-social and intellectual features : Discuss the physical, social, and intellectual features of the earliest civilizations of Mesoamerica. Relate how their agricultural technology differed from that of Europe and Asia.

Major cultural-intellectual aspects of italian renaissance : Write an essay on the major cultural and intellectual aspects of the Italian Renaissance. Support your discussion with specific historical evidence.

Prove that if leisure is an inferior good then labor supply : consider the maximization problem u(c,l) subject to pc + wl = wT + Y, where c is consumption, l is leisure time, T is total time endowment, and Y is non-wage income. prove that if leisure is an inferior good then the labor supply function is upwar..

Explain mercury-filled open-end manometer : What is the pressure (in millimeters of mercury) inside a container of gas connected to a mercury-filled open-end manometer of the sort shown when the level in the arm connected to the container is 17.2 cm lower than the level in the arm

Empire in the usual historical sense of that term : Why did the Carolingian Empire come to be known as the Holy Roman Empire? Was it really Roman? Was it even an empire in the usual historical sense of that term?

The byzantine empire survived : The Byzantine Empire survived, and often prospered, for a millennium after the demise of the Roman Empire in the west. List and discuss the major factors that made this survival possible. Support your discussion with specific historical facts and exa..

Find the charge separation distance : Let us model the electric behavior of such a molecule by a pair of ±1.60 × 10-19-C charges connected by a spring with force constant 8.29 × 10-4 N/m, Find the charge separation distance in an electric field of 6.41 × 105 N/C

User Account

All Pages