Initially assume that the individual has a wage rate of$10 and no other sources otincome. In the chart below. there are 16 hours each dayto devote to leisure or worklng (the other 8 hours are spent sleeping} Leisure hours Value of an Working Daily income Value of $1 per day additional hours additional dollar leisure hour $280 5 $240 6 $200 7 D 600 util s 16 $160 9 2 500 ugg 14 $140 15 4 400 um; 12 $120 25 6 300 utils 10 $100 35 8 200 time 8 $80 45 10 100 gm; 6 $60 55 12 50 utils 4 $40 65