PART 2 ( IMAGE WAS PART 1)Now suppose that you want to know what the isoprofit curve looks like if the profit increases to $500 per day.On the previous graph, use the green line (triangle symbol) to plot the new isoprofit curve.True or False: When comparing two isoprofit curves, the isoprofit curve on the left represents a lower level of profit.True/FalseHolding profit and the price of a dog walk constant, a decrease in the hourly wage causes the slope of an isoprofit curve to 1)remain the same2)get steeper or 3) get flatter (choose 1,2 or 3) and the vertical intercept to 1) decrease2)increase or 3)remain the same (choose 1,2 or 3)

Suppose that you are starting up a dog-walking service and you know several stay-at-home moms who are willing to work for you at an hourly rate of $5. You've been surveying various dog owners in your hometown, and you have discovered that the market price for dog-walking services is $20 per dog. Assume that there are no other costs to running this business other than labor. On the following graph, use the blue line (circle symbol) to graph the isoprofit curve when your profit is $400 per day. 50 O 45 40 Isoprofit for $400 35 A 30 Isoprofit for $500 DOGS WALED PER DAY 25 20 15 10 5 10 15 20 25 30 35 40 45 50 LABOR (Hours per day)