Indifference curve and budget line to analyze the behavior

Reference no: EM13692511

Make an indifference curve and budget line to analyze the behavior the choice of leisure time and hours of work of employees who are paid:

a) An hourly rate of $4 per hour. Explain.

b) A fixed hourly wage of $4 per hour, plus an overtime bonus of $4 for every hour worked in excess of eight hours. Explain.

c) A fixed salary of $40 per day, plus $4 for each hour worked. Explain.

Reference no: EM13692511

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