If a worker faces the following situation, then calculate the amount of leisure: Wage = $30 T = Maximum hours of work = 24 Yn = Non Labour Income = $60 U = IL a. 11 O b. 9 C. 13 d. 15

Title 1. Suppose that the indifference curves between consumption and leisure are concave to the origin.... Description   1. Suppose that the indifference curves between consumption and leisure are concave to the origin. How many hours will a person allocate to leisure activities? 2. Suppose that the price of goods purchased in the marketplace rises. What is the impact of this price increase on the worker's reservation wage, on the worker's probability of entering the labor force, and on hours of work? 3. What happens to a worker's desired hours of work if employers pay an overtime premium equal to "time and a half'(that is, 1 .5 times the straight-time wage) for any hours worked in excess of 40 hours? What would happen to hours of work if the overtime premium were raised to double the straight-time wage?

KA. Ann has non-labour income M; hourly wage rate w. She can choose how many hours she works. She can use her income to purchase consumption, each unit of consumption has price p.   (a) Initially, Ann decides not to work at all. Using a consumption-leisure diagram, explain her behaviour.   (b) Now, her hourly wage rate increases to w’ > w. She decides to start working. Using an appropriate diagram, explain how she decides how many hours to work using substitution and income effects.

5. Using a labour-leisure model, show how the introduction of time and a half for overtime (i.e. the firm must pay a hourly wage 50% higher for any hours of work that exceed 8 hours per day) affect the hours work decision and the level of satisfaction. Assume the worker was working 10 hours per day prior to the government regulation.

Q34 Justin Trudeau, who owns a barbershop in Ottawa, charges $8 per haircut. By hiring one barber named  Sophie at $11 per hour, the shop can provide 22 haircuts per eight-hour day. By hiring a second barber, Gregoire, at the same wage rate, the shop can now provide a total of 42 haircuts per day. The MP of Gregoire, the second barber is Multiple Choice   42 haircuts.   20 haircuts.   $242.   is negative.   $176.

O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit

Consider an individual who must drive to his place of work. Assume that there are 16 available hours in the day, that his wage rate is $20 per hour, and that he has nonlabour income of $100 per day. The commute takes one hour each day and it costs $40 in expenses for the round trip. Using a work-eisure diagram, depict his labour supply choice, including his reservation wage. Analyze the impact of an increase in commuting costs on his participation and hours decision. Analyze the impact, first of an increase in commuting time from two to four hours per day, and, second, of an increase in driving expenses from $40 to $60 per round trip, keeing commuting time at two hours. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

1. Suppose that currently the government provides everyone with a guaranteed income of $10,000 per year, but this benefit level is reduced by $1 for each $1 of work income. The government is considering changing this policy so that the benefit level is reduced by $1 for every $2 of work income. What effect would this policy have on work effort? Explain your answer and include a graph depicting the two scenarios.

2. Assume that in the state of Kentucky, Bill is guaranteed S400 of welfare benefits if he does not work at all. They are allowed a disregard of $100 and face a tax rate of 50%. He has a nonlabor income equal to zero and if the works he can carn a wage of $10 per hour. His total time is 200 hours a woek. a. How many hours of leisure is Bill consuming at his break even point? b. Graph the budget constraint, labeling the break even point and other breaks in the curve as well as slopes of each line. Draw Bill's indifference curves such that he chooses to work 5 hours a month.

Suppose a worker is offered a wage of AED10 per hour, plus a fixed payment of AED20. What is the equation for the worker’s opportunity set in a given 24-hour day? What are the maximum total earnings the worker can earn in a day? The minimum?