Question: 1) Consider the consumer choice example in chapter 4, where consumption and leisure are perfect complements. Assume that the consumer always desires a consumption bundle

1) Consider the consumer choice example in chapter 4, where consumption and leisure are perfect complements. Assume that the consumer always desires a consumption bundle where the quantities of consumption and leisure are equal. Suppose that h-16,w-1.5, pi=0.8, and T=6. Determine the consumer's optimal choice of consumption and leisure, and show this in a diagram. Optimal leisure is? (Answer to at least 2 digits after the decimal point). 7.52 7.54 7.56 7.58 7.60 2) Considerthe consumer choice example in chapter 4, where consumption and leisure are perfect complements. Assume that the consumer always desires a consumption bundle where the quantities of consumption and leisure are equal. Suppose that h=16, w=1.5, pi=0.8, and T=6. Determine the consumer's optimal choice of consumption and leisure, and show this in a diagram. The slope of the budget constraint is? (Answer to at least 2 digits after the decimal point)

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