Illustrate what is her reservation wage


Provide the utility function for consumption and leisure, calculate the reservation wage.

Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours. Her utility function is C*L, so that her marginal rate of substitution is C/L. Cindy receives $630 a week from her grand mom regardless of how much she works. Illustrate what is her reservation wage?

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Business Economics: Illustrate what is her reservation wage
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