2. (25) FOr Miranda, catching sh is not just a protable activity, it is also her only viable source of food. She derives utility from consuming sh q as well as leisure time T, by the function Mar) = x/qT" Again, let p denote the price of sh and let w = 1 be the hourly wage that Miranda earns frOm w0rking. She has a total of E = 24 hours per day to divide between labor and leisure, so that E + r = 24. (a) (5) Suppose that Miranda's expenditure on sh COmes entirely from her wages pg 2 1013'. Rewrite this condition as a budget constraint. What is the \"price\" of leisure and what is Miranda's \"income\" I ? (b) (10) Write Miranda's utility maximization problem and state the rst order conditions. (c) (10) Find Miranda's demand for sh qd(p) and leisure T(p), and her indirect utility v(p)