Fnal Problem 3- Advanced microeconomics - General Equilibrium

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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.

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.

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