Irina’s wage is $20/hour and her childcare costs are $5/hour. Irina’s mother moves in next door...
Irina’s wage is $20/hour and her childcare costs are $5/hour. Irina’s mother moves in next door and takes care of her granddaughter for free.
Will Irina work more or less?
Homework Answers
Irina's mother has moved in next door and is taking care of Irina's daughter for free, which means that Irina need not pay $5/hour for childcare.
Hence the cost of living i.e. the amount of money needed to sustain a certain standard of living by affording her childcare has decreased. Therefore Irina will work less.
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Irina’s wage is $20/hour and her childcare costs are $5/hour.
Irina’s mother moves in next door...
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