2. (25 points) Regarding indifference curves, budget constraints, reservation wages, and the decision to work: A. dene the reservation wage. B. use a budget constraint, indifference curve, and reservation wage to illustrate an individual's decision to work. How does a typical worker decide to devote time to labor and leisure? C. what happens to the worker's decision to work when the reservation wage increases? What happens to hours worked when the reservation wages decreases? D. what happens to hours of labor when the reservation wage rate increases? What happens to hours of labor when the reservation wage rate decreases? Graph it with an indifference curve, budget constraints, and reservation wage. E. what are the conditions under which welfare programs create disincentives for labor? Graph it with an indifference curve, budget constraints, and reservation wage