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Please help me with this homework assignment.

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Please help me with this homework assignment.
Answered Same Day Oct 12, 2021

Solution

Komalavalli answered on Oct 15 2021
146 Votes
Question1)
Liz optimal choice of Home and work
From above graph we can see that Liz has strong preference for market goods (work) over Leisure. At optimal point L where budget line and indifference curve meets, Liz chose HL amount of Home hours and WL amount of work. Here HL is less than WL.
Jenna optimal choice of Home and work
From above graph we can see that Jenna has strong preference for Home over work. At optimal point J where budget line and indifference curve meets, Jenna chose HJ amount of Home...
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