Draw her budget constraint in leisure-expenditure space

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Reference no: EM13154003

Sophia, an interior decorator living in Beverly Hills, receives $25,000 in alimony every month from her former husband. This is not enough however to support the lifestyle to which she has grown accustomed. She has therefore chosen to supplement her alimony with income from her interior decorating business. She charges $100 per hour for her services. Since she sleeps 9 hours a night, the maximum number of hours she can work a month (taken as 30 days) is 450. She gets pleasure not only from her spending money but also from her leisure hours. Draw her budget constraint in leisure-expenditure space. (Thus, leisure is on the x-axis and expenditure is on the y-axis).

Reference no: EM13154003

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