Roxanne and Eileen live in an apartment building with a laundry room in the basement.Roxanne does her laundry at home, spending $4 and 5 hours per week.Eileen sends her laundry out, spending $20 and 15 minutes per week transporting the laundry.On the basis of the information given, which one of the following must be true?
A) Roxanne earns more labor income than Eileen.
B) Eileen earns more total income than Roxanne.
C) Roxanne enjoys doing laundry; Eileen does not.
D) Eileen has less laundry than Roxanne.
E) Eileen and Roxanne attach different utilities to time spent doing laundry.
Correct Answer:
Verified
Q4: The term "utility" means
A)satisfaction
B)a low-valued good
C)productivity
D)adaptability
E)efficiency
Q5: If the real wage decreases, the opportunity
Q6: The statement "Households maximize utility" means that
Q7: Which of the following is one of
Q8: The objective of the household is to
A)maximize
Q10: Which of the four types of economic
Q11: Economists generally assume that
A)firms act to maximize
Q12: As the real wage increases, the opportunity
Q13: The movement in U.S.population from the farms
Q14: The increased labor force participation of married
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