1 One-Period Model 1. * a Consider a one-period model. A rep- resentative consumer has preferences represented by u(C, z) = c + x/l + 1000, where C denotes a numraire composite goods and 1 denotes the hours of leisure. She is allotted h = 1000 hours of time. She works for N 5 hours at the wage rate of 10. In addition to her labor income, she earns the dividend 11' and pays T for tax. Write her utility maximization