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Suppose that Cookie Monster's preferences are repre- sented by HUI, I) = 41og(C + 1] +I and his production function is given by l sF

Suppose that Cookie Monster's preferences are repre- sented by HUI, I) = 41og(C + 1] +I and his production function is given by l sF (K, Nd) = sKi 1W)" , witha = 1 sndK=2%. Suppose that G = 1 andh =8. Let It: be the wage rate. As in V13\

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