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Wage earning=$400 per week, and G=$5000 per year, and 52 week per year.
a. Construct the yearly income-leisure constraint.
b. If t=50%, construct the income-leisure constraint.
c. Now t=0 for the first 25 weeks of working and 50% thereafter. Construct the income-leisure constraint.
d. Compute the break-even level of income and # of week for working.
e. If a worker works 20 weeks only per year, compute the income of this worker.
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