In deciding how many hours to work, Beulah will make a choice that maximizes her _______; that is, she will choose according to her preferences for leisure time and income.
A) budget constraint
B) opportunity set
C) utility
D) production possibilities frontier

Question

Quizplus · Accepted Answer

Utility is the term used in economics to describe the satisfaction or benefit derived from consuming goods and services. In the context of deciding how many hours to work, Beulah will aim to maximize her utility by balancing her preferences for leisure time against her need or desire for income.

In Deciding How Many Hours to Work, Beulah Will Make