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1) Yaron spends his time (18h) between leisure (L) and work and he consume Y product from his working income (Py=1). Assume that Yaron gets

1) Yaron spends his time (18h) between leisure (L) and work and he consume Y product from his working income (Py=1). Assume that Yaron gets W$ per hour of working and has the following utility function: U(L,Y)=L0.5 +Y0.5

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