Determine the is this agent maximizing is utility, Microeconomics

Assignment Help:

1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current situation or working one more hour in exchange for two additional units of consumption. Is this agent maximizing is utility? Why? Should he be working more hours? or fewer?


Related Discussions:- Determine the is this agent maximizing is utility

Concepts used in macroeconomic analysis, what is ratios GNP? what is use of...

what is ratios GNP? what is use of models in macroeconomics?

Calculate long-run optimal amounts of workers and ma, Dolph, Jimbo, and Kea...

Dolph, Jimbo, and Kearney are the only individuals participating in the very particular labor market for ‘protective’ services. Dolph''s labor supply is given by ????????=-46+0.874

Equilibrium price & quantity, Research has revealed the following informati...

Research has revealed the following information about the market for Thomas chocolates; the demand schedule can be represented by the equation Qd=850 @20 dollar. The supply schedul

Chamberline approach, a more simple explanation of the group equilibrium in...

a more simple explanation of the group equilibrium in the short and long run

Firms in a competitive markets, illustrate a long-run equilbrium using diag...

illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine

Capital account, Capital Account: The Capital Account presents transfe...

Capital Account: The Capital Account presents transfers of money and other capital items and changes in the country's foreign assets and liabilities resulting from the transac

Indifference curve properties and its assumptions, what are the main proper...

what are the main properties and assumptions of indifference curve

Production, factors that affects the volume of production

factors that affects the volume of production

Structuralist economics, Structuralist Economics:Its a form of heterodox ec...

Structuralist Economics:Its a form of heterodox economicsthat emphasizes relationships betweenincome distribution, effective demand and political and economic power. Structures:

Applied Microeconomics, EDPE 4056: Applied Microeconomics Program in Econom...

EDPE 4056: Applied Microeconomics Program in Economics and Education Teachers College, Columbia University Prof. Francisco Rivera-Batiz Problem Set 1 Please answer all of the fol

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd