The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I 1 , I 2 , and I 3 curves show the income leisure choices of the individual.
-In Figure 16.5, if the income constraint of the individual is given by the line AB, he maximizes his utility by choosing _____ hours of leisure and earns an income of _____.

Question

The figure given below shows the income-leisure trade off of an individual.Figure 16.5
  AB and AC: Income constraints of the individual
I 1 , I 2 , and I 3 curves show the income leisure choices of the individual.
-In Figure 16.5, if the income constraint of the individual is given by the line AB, he maximizes his utility by choosing _____ hours of leisure and earns an income of _____.

Quizplus · Accepted Answer

The Answer of The figure given below shows the income-leisure trade off of an individual.Figure 16.5
  AB and AC: Income constraints of the individual
I 1 , I 2 , and I 3 curves show the income leisure choices of the individual.
-In Figure 16.5, if the income constraint of the individual is given by the line AB, he maximizes his utility by choosing _____ hours of leisure and earns an income of _____.

The Figure Given Below Shows the Income-Leisure Trade Off of an Individual.Figure