The First Order Condition from the Individual's Utility Maximization Problem $\frac { w } { c } = 1 / 2 \frac { 1 } { \bar { L } }$

question 40

Multiple Choice

The first order condition from the individual's utility maximization problem used to determine the labor supply curve is:

• A) \(\frac { w } { c } = 1 / 2 \frac { 1 } { \bar { L } }\)
• B) \(c _ { \text {today } } = c _ { \text {future } } \cdot \frac { L } { \bar { \ell } }\)
• C) \(\frac { c _ { \text {future } } } { c _ { \text {soday } } } = \beta ( 1 + R )\)
• D) \(L = \frac { \bar { \ell } w } { c }\)
• E) None of these answers are correct.

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