Question: Consider the representative consumer in the one-period model. Initially, this consumer chooses a bundle with consumption c0 and leisure l0. A shock hits this consumer,

Consider the representative consumer in the one-period model. Initially, this consumer chooses a bundle with consumption c0 and leisure l0. A shock hits this consumer, increasing her wage rate. a. Plot this situation in a graph b. What happens to the consumption and leisure of the consumer after this shock? Explain intuitively

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