On January 1, 2017, the minimum wage in Germany was raised from (8.50) per hour to (8.84)
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On January 1, 2017, the minimum wage in Germany was raised from \(€8.50\) per hour to \(€8.84\) per hour. Frieda's job pays the minimum wage, and she presently works 8 hours per day, while her utility function is \(U(Y, N)=Y^{\alpha} N^{1-\alpha}\), where \(Y\) is her income and \(N\) is leisure. Will she choose to work more or fewer hours per day because of the wage increase? Use calculus to find the answer.
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