question archive Robinson has preferences described by the utility function U = (1-phi) log c + phi log l, where c denotes consumption and l leisure
Robinson has preferences described by the utility function U = (1-phi) log c + phi log l, where c denotes consumption and l leisure
Subject:EconomicsPrice: Bought3
Robinson has preferences described by the utility function U = (1-phi) log c + phi log l, where c
denotes consumption and l leisure. Assume that the total number of available hours is equal
to one so that l + h = 1. The production function is y = Ahα , with 0 < α < 1.
