Please help with these questions from my review problems. Please show work step by step so I can study it. THANK YOU. Please answer all questions. I GIVE GOOD REVIEWS!!!!

2. Consider two types of income support programs. One is a sort of \"universal basic income\": each individual gets a transfer of $48 per day whether or not they work, but they may still work at the market wage, if they wish, and they will continue to receive a $48 transfer in addition to any income they earn if they choose to work. The other is a \"living wage\" kind of program: all individuals who are working for a market wage less than $10 per hour are given a subsidy per hour worked to raise their effective hourly pay to $10 per hour (but they don't receive any other transfers). Suppose people have a total of 24 hours per day to allocate between labor and leisure. a. Diagram, on one graph, the budget constraints for choosing leisure and goods under these two different programs, with leisure on the horizontal axis and total income (available to be spent on goods) on the vertical axis. Assume that the market wage is $8 per hour. (10) b. Suppose that people have standard, smoothly (negatively) sloping indifference curves describing their preferences for leisure and goods. How would you expect the \"universal basic income\" program to affect labor supply, compared to having neither program (and receiving only the market wage)? How would you expect the \"living wage\" program to affect labor supply, compared to having neither program (and receiving only the market wage)? (10) c. Based on the specific values of income and wages given, is one of these programs likely to raise utility more than the other does, for all workers, compared to having neither program and getting only the market wage? Or do you expect that some workers might prefer the \"basic income\" program and others will prefer the \"living wage\" program? Explain. (Think about the \"feasible set\" of consumption and leisure choices available under each program.)