Question: A worker has preferences given by the utility function U(N,Y) = NY where N is the hours of leisure per day and Y is

A worker has preferences given by the utility function U(N,Y) = NY where N is the hours of leisure per day and Y is their spending on purchased goods. 13. If the consumer faces a wage rate of w=30, how much leisure and purchased goods do they consume? What is the quantity of labor supplied? 14. Suppose the wage increases to w-40. What is the quantity of labor supplied?

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