Consider a consumer who has well-behaved preferences over leisure (l) and consumption(x). they have nonlabor incomemand have 24 hours in the day that must be divided between leisure and working. they are initially paid a wage w for each hour of work. the price of x is 1. (a) suppose they optimally choose to work 8 hours. draw the consumer’s budget set andan indifference curve showing this situation. (b) now suppose that they are paid an overtime wage that is higher than for each hour worked in excess of 8 hours. (the wage iswper hour for the first 8 hours of work andgreater than w for any additional time.) draw the new budget set and explain anyimpact this has on their choice of hours worked.

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?

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Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)