2. Suppose wage rate, w, remains constant but household nonwage income (TI T) increases. a. Describe (in words) what happens to: i. The slope of the budget constraint; ii. The consumption level and the marginal utility of consumption at the new optimal point; iii. The fraction of the day spent in leisure and the marginal utility of leisure at the new optimal point; iv. The ratio of the marginal utility of leisure to the marginal utility of consumption at the new optimal point; v. The fraction of the day spent working at the new optimal point. b. Suppose that B: 1.0. Suppose that TI: 1.0, and T: 0. What fraction of a day will the household work (that 15, what" 15 NS) if the wage rate W: 3