Multiple Choice
Remember Bonnie and Clyde from your workbook? Suppose that their total profits are 160H, where H is the number of hours they work per year.Their utility functions are, respectively, UB(CB, H ) = CB - 0.04H 2 and UC(CC, H ) = CC - 0.01H 2, where CB and CC are their private goods consumptions and H is the number of hours they work per year.If they find a Pareto optimal choice of hours of work and income distribution, the number of hours they work per year must be
A) 750.
B) 1,600.
C) 850.
D) 1,700.
Correct Answer:
Verified
Correct Answer:
Verified
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