a b if sara currently enjoys 7 hours of non market time how much value
a.b.If Sara currently enjoys 7 hours of non market time, how much value of market goods is she willing to give up for an additional hour of non market time?
b. Suppose Sara has a total of 16 hours per day to spend on market and non market work, and has a non labor income of $20 per day. According to the indifference curve, what is Amy's reservation wage?
c. Suppose Sara has a total of 16 hours per day to spend on market and non market work, and has a non labor income of $20 per day. If she works, she could get a job that makes a wage rate of $5 per hour. Add her budget constraint on the graph above. Show the two endpoints.
d. According to the information provided, will Amy choose to work or not work?Explain.
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