Economys capacity to produce

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Q. According to the production function, with 300 labor hours, Illustrate what is this economy's capacity to produce?

Q. Sarah is awakes 100 hours every week. Using one diagram, Elucidate how Sarah's budget constraints if she earns $6 every hour, $8 every hour also $10 every hour. Now draw indifference curves such that Sarah's labor supply curve is upward sloping when the wage is between $6 also $8 every hour also backward sloping when the wage is between $8 also $10 every hour.

Reference no: EM1320664

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