Suppose a worker gets a weekly check equal to $1,000 from a risk-free investment, has 60 hours of weekly leisure that can be devoted to work and can earn a wage of $40 per hour.
a.Illustrate this worker's budget constraint, with weekly leisure hours on the horizontal and weekly consumption (in dollars) on the vertical.b Illustrate what happens to this worker's budget constraint when the weekly investment check increases to $1,500.
c.Illustrate what happens to this worker's budget constraint when instead the wage increases to $50 per hour.
d.Suppose the worker can hire help at $20 per hour, and each hour of help adds a half an hour to his available leisure.Will the budget constraint described in (a) change?

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The Answer of Suppose a worker gets a weekly check equal to $1,000 from a risk-free investment, has 60 hours of weekly leisure that can be devoted to work and can earn a wage of $40 per hour.
a.Illustrate this worker's budget constraint, with weekly leisure hours on the horizontal and weekly consumption (in dollars) on the vertical.b Illustrate what happens to this worker's budget constraint when the weekly investment check increases to $1,500.
c.Illustrate what happens to this worker's budget constraint when instead the wage increases to $50 per hour.
d.Suppose the worker can hire help at $20 per hour, and each hour of help adds a half an hour to his available leisure.Will the budget constraint described in (a) change?

Suppose a Worker Gets a Weekly Check Equal to $1,000