(g) If w = 1, nd the optimum of leisure h and consumption x. (h) Find the individual supply of l (do not assume w = 1). (i) Find the market supply of labor.Assume that the amount of labor (hours worked) is traded in a competitive market.(j) What will be the equilibrium wage rate w*? (k) What will be the equilibrium level of labor?
Market supply of labor
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