Sasha has 60 hours a week she can work or have leisure. Wages are $8/hour. a. Graph
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a. Graph Sasha’s budget constraint for income and leisure.
b. Suppose wages increase to $10/hour. Graph Sasha’s new budget constraint.
c. When wages increase from $8/hour to $10/hour, Sasha’s leisure time decreases from 20 hours to 15 hours. Does her labor supply curve slope upward or downward over this wage increase?
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a and b See graph below c If leisure time decreases ...View the full answer
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Kamalakar Kapase
I am an Assistant Professor of commerce at B.Y.K College, College Rd, Nashik, Maharashtra 422005. My highest qualification is SET. I have completed my masters in advance accounting & taxation. Recently I have completed my diploma in taxation law. Currently I am pursuing PHD in business Administration.
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