Answer to Question #240411 in Microeconomics for John

Question

May enjoys spending her free time with her friends at the mall and solving problems from her
microeconomics text. She has 16 hours per week of free time. Diagram May's time constraint.
If MU(f)=3/4(P/F)^1/4
and MU(p)=1/4(F/P)^3/4
where F is her time spent with friends at the mall and
P is her time spent working problems, how much time should May spend at each activity?

Answer 1

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