1 consider an individual facing a wage rate w theres a, Ask an Expert

Economics

1. Consider an individual facing a wage rate w. There's a total of 100 hours

available for work or leisure in a week.

(a) Represent his budget constraint graphically

(b) Represent the effect of an decrease in the wage rate

(d) Suppose that the individual must pay a 10$ per week in taxes, regardless of how much he works. How does this affect his budget constraint?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9530738

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