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solved:Answer: This question belong to OU ECON 3513 Labor Problem.

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Answer: This question belong to OU ECON 3513 Labor Problem. Mac’s utility function is given by: Fi? L} = (U – 40} ‘ {25} Assume he has lll? hours in the week available. and hiscurrent wage is $8 per hour after taxes. Finally. he receives $E? of non-labor income each week. [a] What isthe marginal utility of leisure {MOI}? What is the marginal utility of consumption [MUCH Hint: Rem… Show more… Show moreAnswer: This question belong to OU ECON 3513 Labor Problem.BusinessEconomicsEconometrics ECON 3513

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