Question: a) Among ordered pairs 0, P, Q, and R, identify the ordered pair that represent the optimal time allocation towards leisure and work when wages

a) Among ordered pairs 0, P, Q, and R, identify the

a) Among ordered pairs 0, P, Q, and R, identify the ordered pair that represent the optimal time allocation towards leisure and work when wages are set at Wu. Also, identify the ordered pair that represent the optimal time allocation towards leisure and work when wages are set at w;. Briey explain your answer. (5 points)

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