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File:Traditionalwelfare.JPG
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Original file (650 × 515 pixels, file size: 19 KB, MIME type: image/jpeg)
Summary
| Description |
English: Under traditional welfare, a dollar-for-dollar decrease of benefits corresponded to an increase in earnings. Standard indifference curve analysis shows that this creates a "spiked" budget constraint of OABC, making it very likely that an individual's utility maximizing bundle includes no work. |
| Source |
Jackson744 (talk) (Uploads) - Created with MS Paint |
| Author | Jackson744 (talk) (Uploads) |
Licensing
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I, the copyright holder of this work, release this work into the public domain. This applies worldwide. In some countries this may not be legally possible; if so: I grant anyone the right to use this work for any purpose, without any conditions, unless such conditions are required by law. |
File history
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 05:30, 3 April 2006 | | 650 × 515 (19 KB) | wikimediacommons>Jackson744 | Created with MS Paint |
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