Assume that a worker has the Utility Function U(C,L) = CL"C" refers to consumption in dollars and "L" tohours of leisure in a day. The worker has an offered wage of $W per hour, T hours available for leisure or work per day, and $Yn dollars a day from non-labour income.

a) Calculate an equation for the of hours of work, hours of leisure and Consumption for the worker in terms of W,T, and Yn.

b) Provide a well labelled diagram.

c) Explain the Leisure Income Model.

d) How are you going to apply a lesson that you have learned from this model to your life, job, or business?