(a) On the following graph, depict the wages, income, and Social Security benefits at different hours of work for a worker aged 62–64 who earns $15 per hour and is eligible for $15,000 in Social Security benefits.

(b) What is the total income if the person works 1,000 hours per year?

(c) What is the breakeven level of income?

26,000 28,000

$30,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 500 1,000 1,500 2,000 HOURS WORKED (per year)

DOLLAR AMOUNTS (per year)