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please help with this economics question. thank you in advance!!! 1. (20 points) Consider the following utility function for an individual: n(c,) = 3c+ ln()

please help with this economics question. thank you in advance!!!

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1. (20 points) Consider the following utility function for an individual: n(c,) = 3c+ ln() Her time endowment is given by h = 2. The wage rate is 1 in terms of consumption goods (i.e., we normalize the price of the consumption good to 1). Suppose dividend is 71' = 3 and lump-sum tax to the government is T = 2. (a) Write down the budget constraint for this consumer. Compute this consumer's optimal choice over consumption, leisure and working time. (b) Under this preference, is more preferred to less? Does this preference satisfy the dimin ishing marginal rate of substitution property? Explain briey

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