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The Democratic People's Republic of Grubeliand has two workers In ils economy: worker A and worker 3. Workers choose a combination of leisure and consumption

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The Democratic People's Republic of Grubeliand has two workers In ils economy: worker A and worker 3. Workers choose a combination of leisure and consumption to maximize their utility. The individual utility finctions are as follows: U... = 07\"le U; = cm + (302)\" where ('7 stands for consumption. and 2 stands for leisure. Any given worker Is constrained bya maximum of 24 hours of leisure. or a maximum of 24 hours spent working for an hourly wage. to. One unit of consumption costs 51. Find the expression for the Individual labor supply functions. L4 (in) and L3 (to) for each worker. To demonstrate that you have found the correct labor supply functions. solve for the labor supplies If w = 10. LA (10}

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