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4. (4 points each) Suppose U(c, 1-h) = log (c) + a * v(1-h), where (1-h) is leisure share and h is work-hour share from

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4. (4 points each) Suppose U(c, 1-h) = log (c) + a * v(1-h), where (1-h) is leisure share and h is work-hour share from total time normalized to 1. The utility function for leisure v(x) is increasing in x and is concave, i.e. v'>0 and v"

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