Unformatted text preview: (b) On the same graph, graph the budget lines of Jane and Joe while single and Jane and Joe while married. Be sure to label all relevant points on the graph. In addition, label (i) the point of complete specialization as well as the segments of the married budget line where (ii) Jane divides her time between home and the labor market and (iii) Joe divides his time between home and the labor market. (c) With reference to your graph, explain how marrying improves the options available to both Jane and Joe....
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- Fall '08
- Economics, hourly wage, marginal value, Francisca Antman Exercise