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Suppose that the Government of Alaska considers to adopting one of the following welfare policies based...

Suppose that the Government of Alaska considers to adopting one of the following welfare policies based on an ordinary monthly income-leisure choice model. Assume that 20 days are available in total and wage rate is $100 perday per family. (1) A lump-sum grant of $500 per month per family supplied and applying 100% tax rate for every dollar earned. (2) A lump-sum grant of $400 per monthly per family supplied and applying 25% tax rate for every dollar earned. Identify which of the above policies to increase the work incentive most and least. Are you able to show steps?

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