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Calculation of change in work incentive and work / leisure hours.

Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.

Use your diagram in (a) and (b) to analyze and show graphically the change in work incentive facing working who were working 7 and 8 hours before the law change) If applicable, clearly specify any additional assumptions. Please draw a separate graph and tell me illustrate what happens to work/leisure hours.

You may use the same graph as in (a) and (b). (Note you must tell me illustrate what happens to work and leisure hours after the law change).

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917171

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