QUESTION 2 (10 marks) Consider the following information for a worker named Stannis: Stannis earns a...
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QUESTION 2 (10 marks) Consider the following information for a worker named Stannis: Stannis earns a wage of $25 an hour if he works up to forty hours per week. However, for . every hour Stannis works in excess of 40, he earns over-time pay equal to 1.5 times his wage. Stannis also faces a 20% tax rate and pays child-care expenses of $10 for every hour he works. He also receives child support payments of $250 per week. He has a total of 120 hours per week that he can dedicate to work and leisure. In the space below, graph Stannis's potential income constraint line based on his disposable earnings: $2,500 $2,000 $1,500 $1,000 $500 $0 0 20 20 40 60 Page 3 of 10 80 80 100 120 Leisure QUESTION 2 (10 marks) Consider the following information for a worker named Stannis: Stannis earns a wage of $25 an hour if he works up to forty hours per week. However, for . every hour Stannis works in excess of 40, he earns over-time pay equal to 1.5 times his wage. Stannis also faces a 20% tax rate and pays child-care expenses of $10 for every hour he works. He also receives child support payments of $250 per week. He has a total of 120 hours per week that he can dedicate to work and leisure. In the space below, graph Stannis's potential income constraint line based on his disposable earnings: $2,500 $2,000 $1,500 $1,000 $500 $0 0 20 20 40 60 Page 3 of 10 80 80 100 120 Leisure
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