Suppose that an individual with $15 initial endowment per day.The wage rate for this individual is $15.00 per hour.Assume 24 hours per day and she chooses to work 50 hours per week.

a.Graphically, with a typical weekly income-leisure constraint, explain this choice.

b.Now assume that the wage rate is increased to $20.00 per hour. Show a new choice of working if leisure is an inferior good.

c.Draw a labor supply curve based on #b above.