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Calculate marginal utility for income and for leisure

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Question: In Siddhartha's problem, calculate marginal utility for income and for leisure. Now, start off at the choice with 50 hours of leisure and zero income, and a wage of $8 per hour, and explain, in terms of marginal utility how Siddhartha could reason his way to the optimal choice, using marginal thinking only.

Reference no: EM131634889

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