1- Suppose that following represents the utility function of the individual U(c, I) = log(l) + c 6, represents the consumption level of the individual and I, represents the leisure, while the market wage is w , non-wage income is v, and available time is T. a) Find algebraically and draw the Labor Supply function? b) Prove the validity of Slutsky equation for the individual with labor supply preferences as implicitly described above? (Please emphasize the income and substitution effects in your solution) 2- Jean is more hardworking than John. Please discuss and draw the labor supply functions for Jean and J ohn'? (Please emphasize relevant reservation wages in your drawings)? (Hint: In your drawings there should be more than one budget line)