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Economics

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).

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M917171

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