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{"ops":[{"insert":"An individual\u2019s utility function is given by where\u00a0is the amount of leisure measured in hours per week and\u00a0is income earned measured in\u00a0cedis\u00a0per week.\n\u00a0Determine the value of the marginal utilities, when\u00a0= 138 and\u00a0= 500. Hence estimate the change in utility if the individual works for an extra hour, which increases earned income by GH\u00a215 per week. Does the law of diminishing utility hold for this function?\n"}]}
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