Question 9 | [10 marks, max 200 words] Consider Alexei who makes $1,400 per week and just won a ‘set for life’ lottery t

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Question 9 | [10 marks, max 200 words] Consider Alexei who makes
$1,400 per week and just won a ‘set for life’ lottery ticket which
involves a fortnightly payment of $10,000 for 20 years. Currently
he works 35 hours per week. Now do the following: • Illustrate the
effect of the lottery win on Alexei’s budget constraint using a
fully labelled diagram where i) the horizontal axis represents the
hours of free time per week, and ii) the vertical axis represents
Alexei’s weekly consumption. • Illustrate on the same diagram
Alexei’s optimal decisions before and after the lottery win along
with his indifference curves. • Based on your diagram, discuss
whether Alexei will quit his job.