The average person can supply 80 hours of labor per week. For the first 40 hours of labor, the person is compensated with the wage given by w.The government decides to impose an income tax of 75% on wages on individuals on each hour after the 40th hour worked called "the fair tax." For the first 40 hours individuals earn wand from 40 hours to 80 hours individuals earnw(1-t). Graph the budget line. Explain the labor market effects of this fair tax be?