5. Suppose workers may supply labor hours b. at wage to. Their earned income will therefore be wh. They may also receive some government transfers G, and have nonlabor income R. They buy consumptions c with their income at price 1. Their budget line will therefore be CS'wh.+G+R Suppose worker's utility is h9+1 _9+1 U(c, h.) : c (a) Suppose there are no transfers, and no nonlabor income, R : G : 0. Solve for this worker's labor supply curve, and sketch their optimal choice of consumption and labor. 10 points. (b) What is the own-price elasticity of this worker's labor supply? 5 points. Suppose instead that Worker utility is given by C10: h u(c,h) : 1 o: (c) Suppose there are no transfers, and no nonlabor income, R : G : 0. Solve for this worker's labor supply curve, and sketch their optimal choice of consumption and labor. 10 points. (d) What is the own-price elasticity of this worker's labor supply? 5 points. (e) Explain how the first and second utility function in this problem are relatied. 5 points. (f) Suppose a flat tax on labor income is imposed on this worker: calculate their new, aftertax labor supply curve. Depict graphi cally the effect of this tax on the labor supply curve. 5 points