Question: please help, very much appreciated :) 1. Douglas Cobb has preferences over leisure, L, and consumption, C, described by the utility function U(L, C) =

please help, very much appreciated :)

1. Douglas Cobb has preferences over leisure, L, and consumption, C, described by the utility function U(L, C) = LaCP, with and 0 0. d. Find an algebraic expression for Cobb's (uncompensated) wage elasticity of labor dH* w supply, Ew = dw exclusively in terms of the parameters that Cobb takes as given. e. Suppose V > 0. Analyze, in turn, the effects of ceteris paribus increases in V, w, a, and B on Cobb's wage elasticity of labor supply. Interpret your results

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