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Derive Cookie Monster's labor supply when T = 24 and sketch it on a graph with Ns on the horizontal axis and on the vertical
Derive Cookie Monster's labor supply when T = 24 and sketch it on a graph with Ns on the horizontal axis and on the vertical axis. For this question, a rough sketch will do. Pick a couple of easy points to work with such as = 12, 1, 2, 3, 4 and connect the dots. Then, explain in words why the supply curve is upward sloping. refer to table below and Suppose that Cookie Monster's preferences are represented by
u(C, l)=(l+6)C.
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