Use a Game theory model to explain how a law can be represented by a straight line intercepting the horizontal axis (showing free time) and how this impacts the size of the economically feasible set. Secondly in part.

Words: 90
Pages: 1
Subject: Economics

This is a short task (250-300 words in total (for both questions combined), that is asking firstly; in part 1) Use a model ( provided), to explain how a law can be represented by a straight line intercepting the horizontal axis (showing free time) and how this impacts the size of the economically feasible set. Secondly in part

2) Using the (same) model, explain how the law may change Bruno’s offer and how this affects Angela. As part of

your answer, discuss what a modern-day equivalent of such a law might be.

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