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26. The proxies for pleasure and pain used by Jevons in his theory of labor supply...

26. The proxies for pleasure and pain used by Jevons in his theory of labor supply are

a. hours worked and leisure time. b. real wage and overtime. c. cost incurred and utility gained. d. real wage and sick days

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Answer #1

Option A.

The proxies for pleasure and pain used by Jevons in his theory of labor supply are

Hours worked and leisure time.

Are they include additional hours of labor leisure time.

He describes about when an individual decides and how many hours to work which include two factors

  1. The utility that hours of leisure bring.
  2. The second is the utility that the hours of working bring by generating income which allows the Individual to purchase more goods and services.

Therefore when the wages are high,more workers are willing to supply more labor hours as described by him.

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