2. Before Robinson Crusoe meets Friday and begins annoying him with his Brexit stories, he thinks he is alone in the island. In that oneperson economy, Robinson Spends his time gathering and eating coconuts. His technology to produce coconuts is represented by c = 11/2, where l measures hours of the day devoted to coconut gathering. His preferences for coconuts and labor are represented by the utility function u(c, l) = 0.50 l. (a) Represent Robinson's technology and indifference map in the same graph (measure labor along the horizontal axis). (b) Calculate the Pareto efcient allocation of this simple production economy. (c) Suppose the price of coconuts is set to be 1. Calculate the competitive or Walrasian equilibrium of this economy. Assume that Robinson is its only consumer and the owner of the only rm that produces coconuts from labor according to the technology given above. Indicate in your answer Robinson's consumption, Robinson's supplied amount of labor, wage rate, and prots of the rm