Question: Henry is a cab driver. We will model Henry s decision about how many hours to work by assuming his utility function is U (
Henry is a cab driver. We will model Henrys decision about how many hours to work by assuming
his utility function is U h wh hwh where h is how many hours Henry has
worked today.
Assuming the wage is and how many hours does Henry work? points
Will Henry work more or less if the wage increases? points
Colin is also cab driver. Colins utility function is given by:
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