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.