Assume you won Loto-Quebec! Instead of receiving the prize as a lump sum payment, you choose to receive $50,000 per year

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Assume You Won Loto Quebec Instead Of Receiving The Prize As A Lump Sum Payment You Choose To Receive 50 000 Per Year 1 (13.44 KiB) Viewed 113 times

Assume you won Loto-Quebec! Instead of receiving the prize as a lump sum payment, you choose to receive $50,000 per year for 10 years. As a result of that you decide to work part-time at 30 hours per week instead of 50 hours per week. Assuming a 50- week year, what is the annual income effect equal to? 8 OA 1/50 OB-1/50 OC -1/100 OD 1/10