Please look at attachment file for more details
Consider a Robinson Crusoe economy with one consumer, endowed with one unit of labor ( . The agent can work in the single firm producing the consumption good and L is the labor employed in production. The utility function of the agent is , where x is the amount of the consumption good and is the amount of leisure consumed.
Recently Asked Questions
- The creditor is not entitled to recover any deficiency in case the price of sale of the thing pledged is less than the amount due , what is the reason ?
- A stock has monthly returns of -19 % , -6 % , and 45 % . The geometric mean monthly return over that period is ________ .
- Bob invests in Vintel shares and earns the monthly returns of -25 % , +15 % , + 5 % , +5 % . What is his arithmetic average return and his geometric average