Question: Consider the consumer optimization problem discussed in class where the representative consumer's preference are represented by the utility function U(C,1) = Call-a where is

Consider the consumer optimization problem discussed in class where the representative consumer's preference are represented by the utility function U(C,1) = Call-a where is a preference parameter and is positive. The consumer's budget constraint is C=wNT T. The consumer also faces the time constraint 1+ N = h. The notation is borrowed from the textbook. (1) (2) (3)

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