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Suppose that the wage rate is $20 per hour for a typical labor. a. Construct a typical weekly income leisure constraint for this person. b.
Suppose that the wage rate is $20 per hour for a typical labor.
a. Construct a typical weekly income leisure constraint for this person.
b. This person wants to work 45 hours per week but only works 30 hours because of no choice. Show this choice graphically.
c. Suppose a part time job paying $12.00 per hour is available. So this person decides to work extra 15 hours for this part time position in addition to the 30-hour work per week. Show this choice graphically. Why this person chooses more hours of work?
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