In the consumption/leisure model, let the consumer's utility function be u(L, c) = Luci0' for some 0 In the consumption/leisure model, let the consumer's utility
In the consumption/leisure model, let the consumer's utility function be u(L, c) = Luci0' for some 0
In the consumption/leisure model, let the consumer's utility function be u(L, c) Lacla for some 0 < a < 1. Find the daily labor supply curve h* (w, p, T), where w is the wage rate, p is the price of stuff, and T is the number of hours the consumer has in a day. O aT2 P
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