California State University, Northridge

14. Suppose that you have 16 waking hours per day, which you can allocate between working for a. wage of $1 per hour and relaxing (hours of leisure). a. Draw your budget constraint between money income and hours of leisure. b. Now suppose that you have the ability to get by on 4 hours of sleep per night, and therefore. have 20 waking hours per day. ................
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