2. Daniel earns $12 per hour at McDonald's he can work up to 50 hours per...

 

Transcribed Image Text:

2. Daniel earns $12 per hour at McDonald's he can work up to 50 hours per week. First, draw his labor-leisure budget constraint. How is the slope determined? Show how his budget constraint will change if his wage were to fall to $8 per hour. (2 points) Income 1200 Income 80 1200 600 80 400 600 200 400 Hours 20 40 60 80 100 200 Hours 20 40 60 80 100 2. Daniel earns $12 per hour at McDonald's he can work up to 50 hours per week. First, draw his labor-leisure budget constraint. How is the slope determined? Show how his budget constraint will change if his wage were to fall to $8 per hour. (2 points) Income 1200 Income 80 1200 600 80 400 600 200 400 Hours 20 40 60 80 100 200 Hours 20 40 60 80 100