Question: 4. (20) Miranda nds this entire exercise to be needlessly tedious. After all, it is rather ludicrous that she should be buying sh from herself

4. (20) Miranda nds this entire exercise to be needlessly tedious. After all, it is rather ludicrous that she should be buying sh from herself from the wages she pays herself for her own labor and the prots she earns selling sh to herself. She gures that she can just ignore the entire market mechanism and prices entirely, and instead simplify her problem by just choosing some optimal number of hours E to spend gathering sh that would yield the most satisfying balance of food and leisure time. (a) (10) Write Miranda's utility function 1L0?) solely in terms of her hours of labor 6 and state the rst order condition to her utility maximization problem. (b) (10) Find the optimal hours of labor 3* and how much sh q* and leisure r* this would provide Miranda. Is this the same answer you had before
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