Think about the career you hope to have after college. What annual income do you hope to earn and how many hours per week do you plan on working? Use this information to find your future wage. Use the marginal principle to explain how the number of hours you work each week would change if you get an unexpected raise of 50%? A pay cut of 50%? Draw your labor supply curve for these values and describe the relationship between the income effect and substitution effect on your various wages.