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The graph below shows the budget constraint between income and leisure for an individual. For every hour spent in leisure, one less hour is spent
The graph below shows the budget constraint between income and leisure for an individual. For every hour spent in leisure, one less hour is spent working and vice versa. Move the budget constraint to illustrate the trade off that exists when the individual can earn $20,000 if hefshe works 2.000 hours, assuming the individual does not qualify for government support. Assume that the individual only has 2,000 hours to distribute between work and leisure. Provide your answer below: -500 0 500 1000 1500 2000 25'00 3000 3500 H Leisure (flours)
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