ECON 306 Macroeconomics _ Consider a variant of the static G.E. model in which the representative consumer has preferences given by U(C, l), where U(·) is a standard, quasi-concave utility function. The representative firm's production function,

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• econ 306 macroeconomics consider a variant of the static ge model in which the representative consumer has preferences given by uc
• l
• where u· is a standard
• quasi concave utility function t