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This question was created from Labor Economics Problem Set 2.docx


How do you go from 10L-400=1,320-10L to L=86jQuery224021732462376857387_1570028031684


D. W = MRS
10 = C-100 / L-40
10 = 320 + 10(110 -L) - 100 / L-40
10L - 400 = 1,320 - 10L
L = 86
Answer: 86 leisure hours, 24 work hours, and consume $320 + $10(24) = $560 each

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