Use the following income/leisure diagram to answer the questions that follow. The graph is NOT drawn to scale. Make sure to indicate the direction (increase/decrease) of change in the number of hours worked by using a positive sign (+) for increases and a negative sign (-) for decreases. incomelday New wage 8353 5:740 16 Leisure hours What is the new optimal number of hours worked? 6 What is the change in the number of hours worked caused by the income effect? (+)2 What is the change in the number of hours worked caused by the substitution effect? (-)1 Which effect dominated? Income Effect What was the old wage rate? $ 15 What is the new wage rate? $ 22