A farmer's preferences for free time (t) and consumption of grain (c) are described by the utility function u(t, c) = 4√t + c. The grain is produced according to the production function c = 2√(2(24-t)), where (24-t) is the hours of work. Suppose the farmer is currently working 10 hours a day, which gives her 14 hours of free time. Based on this situation, which of the following statements is correct?
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A farmer's preferences for free time (t) and consumption of grain (c) are described by the utility function u(t, c) = 4√t + c. The grain is produced according to the production function c = 2√(2(24-t)), where (24-t) is the hours of work. Suppose the farmer is currently working 10 hours a day, which gives her 14 hours of free time. Based on this situation, which of the following statements is correct?