consumption spending
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A utility function of a worker is U(C,L) = C * L where C is Consumption and L is Leisure
If the worker has a weekly income of $600 and has 70 hours a week of Leisure, how many additional dollars of income would it take to make the worker work 10 more hours a week?
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This job determines consumption spending.
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Initially, this worker enjoys utility in the amount of U(C,L) = C∙L = 600∙70 = ...
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