Draw the indifference curves of a person who is more impatient than Julia in Figure 10.3b, for any level of consumption now and consumption later.
EXERCISE 10.1 THE CONSEQUENCES OF PURE IMPATIENCE Draw the indifference curves of a person who is more impatient than Julia in Figure 10.3b, for any level of consumption now and consumption later. Draw a set of indifference curves for Julia if she does not experience diminishing marginal returns to consumption but has pure impatience. Would […]