Define and graph your budget set in terms of leisure

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You are willing to work up to 80 hours a week. You make $10(B + 1) an hour, B=9

1. Define and graph your budget set in terms of leisure (equal to non–worked hours)-Good 1- and ”money spent on every other good” -Good 2-.

2. Assume that above 40 hours per week you get an overtime hourly rate of $16(B + 1) per hour. Define and graph the new budget set.

3. Assume that in addition to the over-time rate you also have $200(B + 1) in your checking account. Define and graph the new budget set.

need be answer like this

The budget set is represented by all bundles (x1 , x2 ) that satisfy the following equation:

Reference no: EM131424700

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