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Question 36 4 pts Kelly's market wage rate is $10 per hour and nonlabor income is $400. Find her optimal level of work hours. '

Question 36 4 pts Kelly's market wage rate is $10 per hour and nonlabor income is $400. Find her optimal level of work hours. ' 40 V' Find her total money income at her optimum. ' $400 V' Suppose her wage rises to $11 per hour. Which is greater in magnitude in her response, the substitution or the income effect? 8\" bStltUtiOI'l Effect V ' What is the minimum amount of extra nonlabor income that will cause her to drop out ofthe labor force? $400 v

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