Use Indifference Curve and Constraint Analysis to Analyze the Behavior

Essay

Use indifference curve and constraint analysis to analyze the behavior of employees who are paid:
a. An hourly wage rate of $4 per hour.
b. A fixed hourly wage of $4 per hour, plus an overtime bonus of $4 for every hour worked in excess of eight hours.
c. A fixed salary of $40 per day, plus $4 for each hour worked.
d. Which of the above schemes would yield the largest number of hours worked? Explain.