Question: Min has a utility function defined over consumption (C) and fun (F) of the following form U = C + CF + F. Min has

Min has a utility function defined over consumption (C) and fun (F) of the following form U = C + CF + F. Min has T hours in the day to either spend working at wage, w, or having fun. She spends all her earnings, and her non-labor income (N) on consumption which costs a dollar a unit.

Show mathematically what happens to the amount of fun min chooses as her nonlabor income rises? Explain why in economic terms?

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