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4.1.Cindy gets utility from consumption (C) and leisure (L), and has a weekly timebudget ofT= 110 hours.Her utility function isU(C, L) =CL.She receives$660 each week

4.1.Cindy gets utility from consumption (C) and leisure (L), and has a weekly timebudget ofT= 110 hours.Her utility function isU(C, L) =CL.She receives$660 each week from her great-grandmother regardless of how much Cindy works.What is Cindy's reservation wage?

4.2What is Cindy's optimal labor supply (h) and consumption (C) if her wage is10 dollars per hour?Show your work.

4.3What is her optimal labor supply and consumption if her wage is 5 dollars perhour?What is her utility level?Show your work.

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