To maximize utility, an individual should allocate time so that the marginal utility of the earnings from an hour spent working is equal to the marginal utility of an additional hour of leisure.
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Q354: Use the following to answer questions:
Figure: Rita's
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Figure: Davina's
Q356: Kaile earns $10 as a lab technician.
Q357: If the labor supply curve bends backward,
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Figure: Income
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Figure: Rita's
Q361: While individual labor supply curves may bend
Q362: If leisure is a normal good for
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Figure: Joanna's
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Figure: Joanna's
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