This question refers to the figure shown, which represents the feasible consumption set for a worker. Read the following statements and select the correct one.
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Question

This question refers to the figure shown, which represents the feasible consumption set for a worker. Read the following statements and select the correct one.

Accepted Answer

She should never consume 7 hours of free time if her indifference curves are downward sloping.

Answer

The marginal rate of transformation between money and free time when she is working three hours is 60.

Answer

If the marginal rate of substitution between hours of free time and money is equal to 10 when she has 21 hours of free time and 60 pounds, she should consume more free time.

Crowdly

This question refers to the figure shown, which represents the feasible consumpt...

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