Scenario 21-2
Aliyah has recently graduated from college with a degree in journalism and economics. She has decided to pursue a career as a freelance journalist writing for business newspapers and magazines. Aliyah is typically awake for 119 hours each week (she sleeps an average of seven hours each day) . For each hour Aliyah spends writing, she can earn $75. Aliyah is such a good writer that she can get paid for as many hours of writing as she chooses to work.
-Refer to Scenario 21-2. If Aliyah's wage increases to $85 per hour of writing, which of the following points would fall on her budget constraint?
A) 90 hours of leisure, $2,665 of consumption
B) 75 hours of leisure, $3,605 of consumption
C) 85 hours of leisure, $2,890 of consumption
D) 80 hours of leisure, $3,515 of consumption
Correct Answer:
Verified
Q184: Ryan experiences an increase in her wages.
Q185: Figure 21-14 Q186: Consider the indifference curve map and budget Q187: When Joshua's income increases, he purchases more Q188: Figure 21-13 Q190: If a good is a Giffen good, Q191: The labor supply curve may have a Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents