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Consider Jeff from the previous question. Jeff has utility over leisure (L) and consumption (C) that is given by U = 3 |n(L) + |n(C)

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Consider Jeff from the previous question. Jeff has utility over leisure (L) and consumption (C) that is given by U = 3 |n(L) + |n(C) where, again, L is measured in hours and C is measured in dollars. Continue to assume that Jeff has 4000 hours each year to devote to either leisure or work, and that he earns a wage of $30 per hour for each hour that he chooses to work. Given his budget constraint, the utility-maximizing number of hours of leisure Jeff will consume each year is hours. The amount of work Jeff will do each year is hours. Jeff's resulting consumption is $ per year. (Please enter only numbers in the blanks, and round to the second decimal place if necessary.) Hint:Note that 31'1"\" = l 33 z

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