Suppose an individual can work up to 20 hours per day at a wage of $19 per hour. Assume the marginal utility from leisure is given by 1.2cD-2'(E-7) and marginal utility from consumption is given by 0.880-3/(cD-3). A. (Notes upload) In order of r a given worker to be a participant, what must be true about the wage? Write the mathematical condition that expresses this. Now (in terms of c and 2 rather than Y and 8) write the two mathematical conditions which a participant's optimal choice must satisfy. B. (Notes upload) Give this worker's marginal rate of substitution between leisure and labour as a mathematical formula. For this utility function, write the reservation wage as a function in terms of non-labour income YN and time available T. If YN=$247 then WR= V 18.525 . In this case will the individual choose to work? V 1 (Enter "1" for yes, ".1 " for no. Enter "0" ifthe individual is indifferent.) If YN=$72O then WR= V g. in this case will the individual choose to work? \\/ 1 (Enter "1 " for yes, '1" for no. Enter "0" ifthe individual is indifferent.) C. (Notes upload) Write the formula for the individual's potential income constraint if YN=$5142. This individual will choose to work V Q hours. So they will spend 15 J 5142 on consumption and have V E hours of leisure. D. (Notes upload) Suppose instead YN=$24. Write the formula for this individual's potential income constraint. This individual will choose to work X 11.49 hours. So they will have x 8.51 hours of leisure and spend 55 x 242.31 on consumption. Answer Key: 18.53, 1,54, ,1. 0, 5142, 20, 3.02, 16.98, 81.33