=+1, Leandro has 16 hours per day that he can allocate to work or leisure. His job
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=+1, Leandro has 16 hours per day that he can allocate to work or leisure. His job pays a wage rate of $20. Leandro decides to consume 8 hours of leisure. His indifference curves have the usual shape: they slope downward, they do not cross, and they have the characteristic convex shape.
a. Draw Leandro’s time allocation budget line for a typical day. Then illustrate the
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