Multiple Choice
Dudley has a utility function U(C, R) = C - (12 - R) 2, where R is leisure and C is consumption per day.He has 16 hours per day to divide between work and leisure.If Dudley has a nonlabor income of $20 per day and is paid a wage of $0 per hour, how many hours of leisure will he choose per day?
A) 9
B) 10
C) 11
D) 13
E) 12
Correct Answer:
Verified
Correct Answer:
Verified
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