Question: Abel has preferences given by the utility function U (C; L) = C2L so that the slope of his indifference curve is -C/2L. Dagim has

Abel has preferences given by the utility function U (C; L) = C2L so that the slope of his indifference curve is -C/2L. Dagim has the same preferences of U (C; L) = CL so the slope of his indifference curve at any point is -C/L (1) a) Which of them has the relatively stronger preference for consumption over leisure? Explain. b) They can both earn 10 birr per hour, they both have a non-labor income of 3000 birr per week and they have 100 hours per week of working time. Who works the most hours? How much do each of them make per week

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Values: What is important to me?

Purpose: What do we seek to achieve with our behaviour?

An action plan is prepared.