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A representative consumer has preferences described by the utility function:u(c) = lnc,wherecdenotes consumption. Assume that the...

A representative consumer has preferences described by the utility function:u(c) = lnc,wherecdenotes consumption. Assume that the total number of hours available to theworker are ̄h= 1. The consumer/worker receives the wage,w, for her labor services.A. Obtain the labor supply curve.B. Introduce a proportional tax on labor income,τw. Obtain the new labor supply curve.C. Introduce a proportional tax on consumption,τc. Obtain the new labor supply curve

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