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Hello, I'm unsure of how to solve this problem. All parts to the question are included. 4.-Clara's preferences over leisure. N, and corn. C, the

Hello, I'm unsure of how to solve this problem. All parts to the question are included.

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4.-Clara's preferences over leisure. N, and corn. C, the only two goods she cares about, can be represented by the utility function U(N, C) = 265 + N. The price of com is p = $1, and Clara's day has (surprise!) 24 hours. a) Obtain Clara's supply of labor (as a function of the hourly wage, w, of course). How many hours does Clara work if the wage is w = $12? b) Now suppose that Clara obtains a daily allocation of $60 from her rich morn. How does this shift her labor supply? (l.e., compute the new labor supply.) How many hours does Clara work after this shock in her life

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