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Assume that Chris wage is 5.5 units an hour, and he has 12 hours a day he can either spend working or being at home.

Assume that Chris wage is 5.5 units an hour, and he has 12 hours a day he can either spend working or being at home. Derive his budget constraint and illustrate it on a graph (market output on vertical axes and nonmarket output on horizontal).

Now, assume that Chris' wage got increased to 6.0 units an hour. Please illustrate this change on the same graph.

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