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Utility function of the individual

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Suppose that following represents the utility function of the individual Uc,l=logl+c c, represents the consumption level of the individual and l, represents the leisure, while the market wage is w , non-wage income is v, and available time is T.

Prove the validity of Slutsky equation for the individual with labor supply preferences as implicitly described above? (Please emphasize the income and substitution effects in your solution)?

Reference no: EM133273942

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