Question: This is part 2 12 2. If John has a Cobb-Douglas utility function: U = (24 - H).(wH)5 , where w is the wage rate

This is part 2 12 2. If John has a Cobb-Douglas

This is part 2

12 2. If John has a Cobb-Douglas utility function: U = (24 - H).(wH)5 , where w is the wage rate and H is the hours of working. The labor supply function of John is O H = 24w O H = 12w OH=8 0 H =12 Show your work

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