in python /labor supply curve

Exercise 3 Return to the labor supply decision in the first part of the Household and Asset Pricing notes. In class we used log preferences and saw that the income and wealth effects cancelled Define preferences as U(C. N) = NI- 1-07 1-0 . these are called Constant Relative Risk Aversion or CRRA . parameter v is like our weight 0 before [ controls the preference for consumption versus leisure 1. For given wealth A and wage wo derive analytically the labor supply curve (1.e. Las a function of w. A) from the problem below max U(C, 1 - L) CL. S. 1. CS wl.+ A 2. Write a function 1supply that computes the optimal labor supply given wealth and wages, In two separate graphs, plot how labor supply varies with wealth and then with wages. Give an economic interpretation for the relationships revealed in your graphs