Question: Assignment 5.1 - Utility Analysis Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and

 Assignment 5.1 - Utility Analysis Terry attends college and works part-time

Assignment 5.1 - Utility Analysis Terry attends college and works part-time in a drug store. She can work up to 40 hours each week and is paid $9 per hour. The following table shows her utility from different levels of leisure and income. Hours of Total Utility Marginal Work Income Total Utility Marginal Leisure from Leisure Utility of Hours from Income Utility from Leisure Income 5 18 5 45 35 10 34 G 10 90 59 53 15 48 16 15 135 77 20 56 20 180 86 25 60 25 225 92 13 30 65 30 270 98 11 35 69 H 35 315 103 11 40 72 40 360 107

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