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3. You graduate from college and take a job at a consulting rm with a wage of $25 per hour. Your job is extremely exible:

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3. You graduate from college and take a job at a consulting rm with a wage of $25 per hour. Your job is extremely exible: you can choose to work any number of hours from 0 to 2,000 per year. a. Suppose that there is an income tax of the following form: Income up to $10,000: no tax Income from $10,000$30,000: 20% tax rate Income from $30,000 up: 30% tax rate Draw a graph in hours worked/consumption space, showing your opportunity set with and without the tax system. Say you choose to work 1,500 hours per year. What is your marginal tax rate? What is your average tax rate? Do these rates differ? Why or why not

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