Question: 3. Consider two individuals facing the same two-period budget constraint in a two-period world of endowment incomes and an exogenously given real interest rate. The

3. Consider two individuals facing the same two-period budget constraint in a two-period world of endowment incomes and an exogenously given real interest rate. The "less patient" individual will have a higher MRS (at any given point) and thus consume more in the second period than will the "more patient" individual. Comment.

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