Illustrate point of utility maximization


Solve the below:

Q: Assume there are 16 total hours available in a day for work and leisure. Suppose Bart has a job that pays $8 per hour and allows him to work as many or as few hours as he wishes.

Q1. Based on the information, graph Bart's budget constraint.

Q2. Suppose Bart is a leisure lover, illustrate his point of utility maximization given the budget constraint from question 1.

Q3. Given your illustration in question 2, how many hrs is Bart working?

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Microeconomics: Illustrate point of utility maximization
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