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Question 2 For this question, suppose as in class, that consumers have preferences over consumption and leisure given by u(c, 1) = In(c) + In(/). Further suppose that h = 16, x -T- -2. If the real wage is w -4, what is the optimal choice of leisure (2) (to two decimal places)? D Question 3 Using the information in Question 2, what then is the optimal choice of consumption? Show Transcribed Text D Question 4 Again, using the same information in Question 2, what is the corresponding choice of labor supply, NS? (to two decimal places) D Question 5 In this question, suppose that h = 100, w - 15, * = 20, T - 5. A) Find the y and x intercepts for the budget line and plot the budget line in this case. B). Now suppose that w = 20. Draw what happens to the budget line. For this question, draw your work on a sheet of paper if that is easiest! You can upload an image of your work. You can also complete this question in Excel (or similar) if that is easier for you