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9. Consider a simple production economy with N goods. Each of the goods is produced with the following production function where x is the good,
9. Consider a simple production economy with N goods. Each of the goods is produced with the following production function where x is the good, the subscript i denotes the good, and L is labor. The total work available is 100 Suppose that in this economy there is a representative agent with preferences given by the following utility function U(x) What is the problem of the central planner? A) max U(x) Subject to Z\" x2 = 100 B) min 2\" :52 i=1 i Subject to U (x) = u C) max U(x) Subject to {Li = 100 D) None of the above
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