econ question

An individual has the following preferences dened over consumption of a composite good 0 (with a per unit price p normalized to 1) and leisure h 3 0 measured in hours: U = h1/3 c2/3- Her total daily time constraint is H : 24 : h + lhours (wherel 2 0 denotes her labor supply in hours) and her daily non-labor income is 3; = $480. Answer each of the following questions based on the above information. You have three attempts (your highest score will be recorded). Round your FINAL numerical answers to the nearest 2nd decimal place (0.01). NOTE: In accordance with our academic honesty policy, do not communicate your answers with anyone. D Question 1 1.5 pts Assuming the hourly wage is w = $5, calculate this individual's daily consumption of leisure, h. D Question 2 1.5 pts Again, assuming the hourly wage is w = $5, calculate her daily consumption of the composite good, C. D Question 3 1.5 pts Assuming the hourly wage is w = $15, calculate this individual's daily consumption of leisure, h. D Question 4 1.5 pts Again assuming the hourly wage is w = $15, calculate this individual's daily consumption of the composite good c. D Question 5 3 pts Calculate the threshold level of the wage, above which she would work (Z > O) or (h