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Todd''s utility over consumption (C) and hours worked (H) in a week is given by: (1) U (H, C) =560 In C- 0.5H2. where In
Todd''s utility over consumption (C) and hours worked (H) in a week is given by: (1) U (H, C) =560 In C- 0.5H2. where In denotes natural logarithm. The hourly wage rate is $15. Todd also gets Yy, as supplementary income from Centrelink. We will assume the following: e C21. e 0=sH=
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