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Robinson has preferences described by the utility function u(c) log c, where c denotes consumption. Assume that the total number of available hours is equal
Robinson has preferences described by the utility function u(c) log c, where c denotes consumption. Assume that the total number of available hours is equal to one so that 1+ h = 1, where l and h denote leisure and hours of work, respectively. The production function is y = Ah", with 0
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