2. Micro Review Assume that a person's utility over two goods is given by: U(e,l) =In(c) + xIn(1 - 1) Where In(z) is the natural logarithm of z. This person values consumption and leisure 1 [. The price of consumption is equal to p and the wage paid for labor [ (0,1) is w. Total income is equal to the wage income. (a) What is the budget constraint for this person? (b) Write down the Lagrangian function, and then solve for the first-order conditions with respect to , [ and A. Where A is the Lagrange multiplier on the budget constraint. () Solve for the demand functions * and (1 [)* as functions of p, w, and y. (d) What is the elasticity of consumption * and leisure (1 [)* with respect to the real wage (w/p)