Consumer's Problem

In the following graph, the agent has the utility function \(U(c,l)=\ln c + \ln l\)

Exogenous Parameters:
\(w\):
\(h\):
\(\pi\):
\(T\):

Endogenous Parameters:
\(C\): test
\(l\): test
\(N_s\): test
\(U\): test




The consumer's problem is \[\max_{c,l}\; U(c,l)\] subject to the constraints: \begin{gather} c\geq 0, \quad \quad h \geq l \geq 0 \tag{NonNeg}\\ c \leq w\cdot(h-l) + \pi - T \tag{Budget}\\ \end{gather}
In this example, \(U(c,l) = \ln c + \ln l\)