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What is sandy optimal labor supply

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1a) Sandy gets utility from consumption (C) and leisure (L), and has a weekly time budget of T = 110 hours. Her utility function is U(C, L) = C ∗ L. She receives $660 each week from her grandmother regardless of how much Sandy works. What is Sandy's reservation wage?

1b) What is Sandy's optimal labor supply (h) and consumption (C) if her wage is 10 dollars per hour?

1c) What is her optimal labor supply and consumption if her wage is 5 dollars per hour? What is her utility level?

Reference no: EM132794987

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