The following figure shows the weekly income (in dollars)and leisure (in hours)of a worker using an indifference curve and a budget line.
Figure 17-1
-In Figure 17-1,assume the worker is initially in equilibrium at point A.Weekly earnings and work effort are _____ respectively.

Question

The following figure shows the weekly income (in dollars)and leisure (in hours)of a worker using an indifference curve and a budget line.
Figure 17-1 
-In Figure 17-1,assume the worker is initially in equilibrium at point A.Weekly earnings and work effort are _____ respectively.

Quizplus · Accepted Answer

In equilibrium at point A, the worker's weekly earnings are OY₁ and the work effort is NL₂.

The Following Figure Shows the Weekly Income (In Dollars)and Leisure