Akua gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 110 hours. Her utility function is U (C, L) = C × L. Akua receives 660 GHS each week from her great-grandmother—regardless of how much she works. a. What will be Akua’s marginal rate of substitution. b. What will be Akua’s reservation wage? (Explain

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A: Maximum Units of consumption =  Income/Price  = wage*Hours worked/Price= 14*H/1 = 14H 225 = 14 H […

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