Suppose Smith from Problem 7 views current and future consumption as perfect, one-for-one substitutes for one another.

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Suppose Smith from Problem 7 views current and future consumption as perfect, one-for-one substitutes for one another. Find his optimal consumption bundle.

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Microeconomics and Behavior

ISBN: 978-0078021695

9th edition

Authors: Robert Frank

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Question Posted: Dec 12, 2014 10:20 AM

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Suppose Smith from Problem 7 views current and future consumption as perfect, one-for-one substitutes for one another.

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1for1 substitutes means MRTP 1 slope of ...View the full answer

Microeconomics and Behavior

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