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Dudley, Has a Utility Function U(C, R)= C - (12

Question 12

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 $30 per day and is paid a wage of $4 per hour, how many hours of leisure will he choose per day?


A) 9
B) 7
C) 8
D) 11
E) 10

Correct Answer:

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