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Problem
Sasha has 60 hours a week she can work or have leisure. Wages are $8/hour.
a. Graph Sasha's budget constraint for income and leisure.
b. Suppose wages increase to $10/hour. Graph Sasha's new budget constraint.
c. When wages increase from $8/hour to $10/ hour, Sasha's leisure time decreases from 20 hours to 15 hours. Does her labor supply curve slope upward or downward over this wage increase?
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Assignment: Discussion-Market Structures- Explain the factors you considered when identifying the market structure for this industry.
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New England Textiles, Inc., is a medium-sized manufacturer of blue denim that sells in a perfectly competitive market. Given $25,000 in fixed costs
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