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13) Consider the standard labor-leisure choice model. Consumer gets utility from consumption (C) and leisure (L). She has H total hours. She works N' hours

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13) Consider the standard labor-leisure choice model. Consumer gets utility from consumption (C) and leisure (L). She has H total hours. She works N' hours and receives the hourly wage, w. She has some non-labor income it and pays lump-sum tax T. Further suppose (nt - T) > 0. The shape of utility function is downward-sloping and bowed-in towards the origin (the standard U- shaped case just like a cobb-douglas function) If this consumer decides to NOT WORK AT ALL, then it must be the case that A) |MRSL,CI = |wl B) MRSL,C)

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