Question: consider Consider the following Labour-Leisure Choice model. Utility function over consumption (C) and leisure (L) W/ N U(C, L) = COL Total hours: H =

consider Consider the following Labour-Leisure Choice model. Utility function over consumption

consider

Consider the following Labour-Leisure Choice model. Utility function over consumption (C) and leisure (L) W/ N U(C, L) = COL Total hours: H = 40 Labour hours: N* = H - L Non-labour income: IT = 100 Lump-sum tax: T = 80 Hourly wage: w = 10 What is the optimal NS? O A. 12 O B. 26 O C. 28 O D. 14 O E. None of the above

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