STSTEER

Deriving Labor Supply

Deriving optimal hours of work from a Cobb-Douglas utility over consumption and leisure.

Question template

Emma is thinking about her work hours in relation to her financial needs. Her utility function balancing consumption and leisure is represented by utility func. With her wage being wage and non-labor income at non labor income, she must consider her budget constraint, which is budget. What is the optimal number of labor hours Emma should choose?

Use it

from datasets import load_dataset
ds = load_dataset("narunraman/steer_me", "deriving_labor_supply")