How to increase the weekly allowance per week

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Reference no: EM13210006

Sally, a college student at UConn, earns $10 per hour working at Friendly's. Her parents also give her $100 per week to help with expenses. Lately, Sally's parents have been concerned about her grades and want her to spend less time at work and more time studying. In order to encourage Sally to spend less time at work, her parents consider two possibilities:

Plan A: Reduce her weekly allowance by $2 for every hour that she works.
Plan B: Increase her weekly allowance from $100 to $200 per week.

a. Given that there are 168 hours in a week, sketch Sally's weekly budget constraint before and after the implementation of Plan A. Label the x-axis, the y-axis, the x-intercept, the y-intercept, the slope and the endowment point.

Reference no: EM13210006

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