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Can you please show me step by step how to solve this. thank you. 3. (8 points) Suppose Emily has a job at which she

Can you please show me step by step how to solve this. thank you.

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3. (8 points) Suppose Emily has a job at which she makes $25 /hour, and she can work any number of hours at this wage. At the current wage, she decides to work for 8 hours. (a) (2 points) Be10w, Emily's labor decision is depicted with point A. What is the value of X, Y1, XA and YA? (b) (2 points) Now suppose that Emily's wage increases to $35/hour, and she can work any number of hours at this wage. At her new wage, Emily now chooses to work for 10 hours. Is Emily's new labor decision labeled B or C? What is the value of )3, her new optimal level of income, and her new optimal level of leisure? (c) (3 points) Using the labels in the graph below indicate what are the magnitudes of the income, substitution and net effect of the wage increase. (d) (1 point) Does the income or the substitution effect dominate? Income per period of time (assumed to be spent on consumption) Xe XA Xc X Number of leisure hours per period of time Note: The \"period of time\" in this graph is a day

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