The Problem the Individual Solves to Derive the Labor Supply $\max _ { c , L } U ( c , L ) = \log c - 1 / 2 \frac { 1 } { \bar { \ell } } L ^ { 1 / 3 } \text { subject to } c + \bar { S } = w L$

question 94

Multiple Choice

The problem the individual solves to derive the labor supply is:

• A) \(\max _ { c , L } U ( c , L ) = \log c - 1 / 2 \frac { 1 } { \bar { \ell } } L ^ { 1 / 3 } \text { subject to } c + \bar { S } = w L\)
• B) \(\max _ { c _ { \text {tody } } c _ { \text {farr } } } U \left( c _ { \text {toduy } } c _ { \text {future } } \right) = \log c _ { \text {today } } + \beta \log c _ { \text {future } } \text { subject toc } c _ { \text {today } } + \frac { c _ { \text {future } } } { 1 + R } = \bar { W }\)
• C) \(\max _ { c }U ( c ) = \log c \text { subject to } P c = w L\)
• D) \(\max _ { c , t } U ( c , \bar { \ell } ) = \alpha \cdot \log c + ( 1 - \alpha ) \cdot \bar { \ell } \text { subject to } c - w \bar { \ell } = w L\)
• E) \(\max _ { k , L } U ( K , L ) = \bar { A } K ^ { \frac { 1 } { 3 } } L ^ { \frac { 2 } { 3 } } \text { subject to } C = r K + w L\)

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Definitions:

Mowrer

Psychologist O.H. Mowrer, known for his theories on learning and contributions to behavior therapy, especially in the treatment of fears and enuresis.

Obsessive-Compulsive Disorder

A mental disorder characterized by persistent, unwanted thoughts (obsessions) and repetitive behaviors (compulsions).

Claustrophobia

An anxiety disorder characterized by an intense fear of being enclosed in a small space or unable to escape, leading to panic.

Psychogenic Fugue

Psychogenic Fugue, also known as dissociative fugue, is a psychological state in which a person temporarily loses their sense of personal identity and impulsively wanders or travels, often forgetting their past.