Question: Consider an individual whose utility function is given by U(C, L) = ln C +ln L, where C is expenditure on consumption and L is

Consider an individual whose utility function is given by U(C, L) = ln C +ln L, where C is expenditure on consumption and L is hours of leisure. Assume that this individual has a total of T hours in a day which she can allocate to either work or leisure. She receives an hourly wage rate of w, and has a non-labor income V . This worker maximizes her utility subject to her budget constraint. Assume that > 0, > 0 (a)

Write down the budget constraint that this worker faces?

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