Question: I need help understanding this question. Derive the labor supply functions that are associated with the three utility functions given below. Assume that the individual's

I need help understanding this question. Derive the labor supply functions

I need help understanding this question.

Derive the labor supply functions that are associated with the three utility functions given below. Assume that the individual's time endowment is T = 16, non-labor income V = 32 and the price of consumption is one. In each case, plot the labor supply function. 1. U(C,L) = 0.2In(C) + 0.8In(L) 2. U(C,L) = 0.4C +0.6L HINT: This utility function is linear and it violates the conditions we typically impose on the utility function. In particular, this utility function does not feature the diminishing marginal utility of consumption and leisure (why?). As a results, there will not be interior solution. 3. U(C,L) = C + 0.81nL

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