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    Jonathon is a single father with one child. He can work as a server for $6 per hour for up to 1,500 hours per year. He is eligible for welfare, and so if he does not earn any income, he will receive a total of $10,000 per year. He can work and still receive government benefits, but for every $1 of income, his welfare stipend is $1 less. Create a table similar to that shows Jonathan’s options. Use four columns, the first showing number of hours to work, the second showing his earnings from work, the third showing the government benefits he will receive, and the fourth column showing his total income (earnings + government support). Sketch a labor-leisure diagram of Jonathan’s opportunity set with and without government support.

    Jonathon’s options for working and total income are shown in the following table. His labor-leisure diagram is shown in the figure following the table. Number of Work Hours Earnings from Work Government Benefits Total Income 1,500 $9,000 $1,000 $10,000 1,200 $7,200 $2,800 $10,000 900 $5,400 $4,600 $10,000 600 $3,600 $6,400 $10,000 300 $1,800 $8,200 $10,000 0 $0 $10,000 $10,000

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Questions & Answers

a mixed economic system
Ngong Reply
What are the types of price elasticity of demand
Juliana Reply
what are massures to promote geographical mobility of labor?
Ngong
Is to make sure that a labourer to know more about his salary to earn before going to the direction
shehu
what is trade
PHILIPPE Reply
Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. Trade can take place within an economy between producers and consumers.
Miss
what is fisical policy?
ha Reply
fisical policy or fiscal policy?
Miss
what are.the characteristics of economic goods
Hamis
what are the importance of labour market?
Rachael
how discrib the rural development and their four stages
Sheikh Reply
ye economics se related ha
Sheikh
1..traditional stage..no science and technology is applied hence poor productionuu.2..the take off stage..some development strategies are initiated eg transport system is improved but the traditional cultural belief still remain .3..the prematurely stage..technological methods of production are appl
President
applied leading to higher GDP..4..stage of mass consumption..
President
What is Easiest Formula For National Income?
Tenzin Reply
national income/ agrrigate net value
Sheikh
what do you mean by the supply of goods
sachin Reply
supply of good refer to the total unit of production which is ready to sell at a given price
Tenzin
what is implicit cost
fuseini Reply
Yeah
MOHAMED
any cost that has already occurred but not necessarily shown or reported as a separate expense.
President
The links don't seem to be working
Scorch Reply
what is taxonomy
wise Reply
how to interprets elasticity
Joseph Reply
what is demand curve
Joseph
It is the graphical representation of quantity demand of a commodity?
Kofi
it is the graphical representation of price and quantity demanded of a commodity
Obaa
what is the difference between positive economics and normative economics.
pauline Reply
It said that positive economics studies the facts, but normative one focus on ought to be.
Mohammad
in another words normative economics focuses on what the fair situation is.
Mohammad
positive economics: wages are 10$ per hour. normative economics: wages should be 25$ per hour.
Mohammad
what is choice
Hamis Reply
what is indifference curve
Misba Reply
It is an alternative combination of consumption of two goods which gives equal level of satisfaction.
Shujjat
good morning guys.. I am Lawrence from Nigeria.. trust am welcome here..
Lawrence Reply
mashallah
Tanveer
are you ecnomist?
Noor
I am a researcher
jackie
you all are ecnomost
Noor
ohh nice
Noor
re search on economy
Noor

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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