Suppose that an individual's utility function for consumption, C, and leisure, L, is given by U(C, L) = CO.5 L0.5 This person is constrained by two equations: (1) an income constraint that shows how con- sumption can be financed, C = wH +V, where H is hours of work and V is nonlabor income; and (2) a total time constraint (T = 1) L+H =1 Assume V = 0, then the expenditure-minimization problem is minimize C - w(1 - L) s.t. U(C, L) = C0.5 10.5 = U