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Category > Economics Posted 27 May 2017 My Price 4.00

Work and Utility

Work and Utility

Explain the concept of the “net utility of work.” How is it useful in developing the labor supply curve?

 

 

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Status NEW Posted 27 May 2017 12:05 PM My Price 4.00

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file 1495887462-Answer.docx preview (127 words )
W-----------ork----------- an-----------d U-----------til-----------ity----------- -----------Exp-----------lai-----------n t-----------he -----------con-----------cep-----------t o-----------f t-----------he -----------“-----------net----------- ut-----------ili-----------ty -----------of -----------wor-----------k.----------- -----------How----------- is----------- it----------- us-----------efu-----------l i-----------n d-----------eve-----------lop-----------ing----------- th-----------e l-----------abo-----------r s-----------upp-----------ly -----------cur-----------ve?----------- A-----------nsw-----------er ----------- Ut-----------ili-----------ty -----------mea-----------ns -----------the----------- wa-----------nt -----------sat-----------isf-----------yin-----------g p-----------owe-----------r o-----------f a----------- co-----------mmo-----------dit-----------y. -----------It -----------is -----------not----------- th-----------e d-----------esi-----------re -----------for----------- th-----------e c-----------omm-----------odi-----------ty -----------but----------- ho-----------w m-----------uch----------- a -----------com-----------mod-----------ity----------- ca-----------n s-----------ati-----------sfy----------- th-----------e w-----------ant-----------s o-----------f t-----------he -----------con-----------sum-----------er -----------is -----------mea-----------sur-----------ed -----------by -----------uti-----------lit-----------y. -----------If -----------one----------- pe-----------rso-----------n c-----------ons-----------ume-----------s m-----------ore----------- an-----------d m-----------ore----------- of----------- a -----------com-----------mod-----------ity----------- ut-----------ili-----------ty -----------dec-----------rea-----------ses----------- th-----------is -----------is -----------kno-----------wn -----------as -----------law----------- of----------- di-----------min-----------ish-----------ing----------- ma-----------rgi-----------nal-----------
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