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Angela has a job that pays $15 per hour. There is a probability If she works more than 40 hours in a week, she gets an overtime pay of 50%, raising her wage to $22.50 per hour. Angela only wants champagne and leisure time. Assume the maximum she can work is 80 hours per week (she needs to spend the remaining time eating and sleeping). Draw Angel's budget line constrain, assuming champagne costs $6 per unit. Will Angela ever work exactly 40 hours per week? Please explain why or why not?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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