NO MORE THAN TWO (2) FILES MAY BE UPLOADED. ZIPPED FILES THAT EXTRACT TO MORE THAN 2 FILES ARE NOT PERMITTED PLEASE
A question very similar to these will very likely appear on the final exam.
TIP: DRAW BIG GRAPHS TO IMPROVE CLARITY
1. Suppose that John could work 365 days per year and could earn $200 per day for each day he worked. Draw his budget line with respect to his labor-leisure choice.
2. Suppose that John chooses to work 200 days per year. Draw the appropriate indifference curve, and note his equilibrium wage income and labor-leisure choices