1) U(c.D) 4ln(c)+13ln(1) a) Suppose wages are 11, profit is 89 and taxes are 44. What...

 

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1) U(c.D) 4ln(c)+13ln(1) a) Suppose wages are 11, profit is 89 and taxes are 44. What is the most consumption that can be taken? B) "Suppose wages are 11, profit is 89 and taxes are 44. Without time constraints, what is the most leisure that can be taken? (i.e. What is the intercept on the leisure axis?)" c) "Suppose wages are 11, profit is 89 and taxes are 44. With time constraints, what is the most leisure that can be taken?" d) What is the utility for the representative consumer from a bundle of 35 consumption and 45 leisure? e) What is the utility for the representative consumer from a bundle of 45 consumption and 35 leisure? f) What is the utility for the representative consumer from a bundle of 19 consumption and 60 leisure? 2) The representative consumer prefers the bindle which provides the most: a) consumption b) leisure c) utility d) MRS 1) U(c.D) 4ln(c)+13ln(1) a) Suppose wages are 11, profit is 89 and taxes are 44. What is the most consumption that can be taken? B) "Suppose wages are 11, profit is 89 and taxes are 44. Without time constraints, what is the most leisure that can be taken? (i.e. What is the intercept on the leisure axis?)" c) "Suppose wages are 11, profit is 89 and taxes are 44. With time constraints, what is the most leisure that can be taken?" d) What is the utility for the representative consumer from a bundle of 35 consumption and 45 leisure? e) What is the utility for the representative consumer from a bundle of 45 consumption and 35 leisure? f) What is the utility for the representative consumer from a bundle of 19 consumption and 60 leisure? 2) The representative consumer prefers the bindle which provides the most: a) consumption b) leisure c) utility d) MRS

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