Question: Solve using substitution method Problem 5 Utility Function: U = V8 + 24 Time Constraint: H=24- f Income Constraint: Y=wH W=8 Solve for the optimal

Solve using substitution method

Problem 5 Utility Function: U = V8 + 24 Time Constraint: H=24- f Income Constraint: Y=wH W=8 Solve for the optimal values of f and Y using the Substitution Method

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