Consider a simple one-period, closed-economy model where the representative consumer has utility function U(C,l) = C^1/2l^1/2 and has h available hours to divide between work and leisure. The representative firm has technology given by Y = zK^1/3N^2/3 There is a government that sets its expenditure level at a value G0 0.

a. Does this utility function satisfy the Inada Conditions? Show your answer. b. Define a competitive equilibrium for this economy. Explain it using a suitable graph. c. Find the competitive equilibrium values (C*, l*, N*, T*, Y*, w* ) given parameters h = 14, z = 1, K = 15625, and G0 = 0.