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dont use excel solver. solve how many hours by hand please. 10. Let Jane's utility function be given by: U 100 x In(C) +50 x
dont use excel solver. solve how many hours by hand please.
10. Let Jane's utility function be given by: U 100 x In(C) +50 x In(L) where Cis consumption (in dollars) per year and L is hours of leisure per year. Jane can make $15 per hour and can work up to 2,000 hours per year. (a) Set up the maximization problem, showing the budget co (b) Use Excel solver to identify how many hours Jane will want to work per yearStep by Step Solution
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