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A consumer has preferences over consumption C and leisure L given by u(C,L)=C+lnL. If she can work 24 hours per day, and if all money
A consumer has preferences over consumption C and leisure L given by u(C,L)=C+lnL. If she can work 24 hours per day, and if all money for consumption is earned by working, then she will optimally choose L where:
(a) L=1
(b) L=1/w
(c) None of these
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