Suppose a labour has his utility function given as U = f(M, L), where M is labour income and L is…


Suppose a labour has his advantageousness administration absorbed as U = f(M, L), where M is labour pay and L is spare-time. What is the predicament for the labour to optimize his pay and spare-time? Represent the equilibrium posture of the labour. Using coolness incurvation anatomy, represent the spring of labour give incurvation. Why is the labour give incurvation inconversant pliant?