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Exercise 11.4 Consider a consumer whose preferences are given by: U(C,R) = alogC+ (1 a)logR, where C denotes consumption and R denotes leisure. The consumer has T units of time that he can either allocate to leisure. R, or to labor, L. Let p denote the nominal price of one unit of consumption and to denote the nominal wage. a. If V denotes the consumer non-labor income, write out his budget constraint. b. Derive the consumer's labor supply function. c. Suppose that full time workers must supply at least H