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1 (50 Marks) Bob Is Deciding How Much Labour He Should Supply He Gets Utility From Consumption Of Beer (Given By

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as working hours of Bob = Available hours – heisure time.!
2 ( 12 – L) hours
Per hour wage of Bob = w
Wages of Bob in ( 12 – 1 ) hours = wx ( 1 2 – L)
quot; = 2 ( 12 – 12
= 24 – 21
Cost of beer =…Macroeconomics