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22-03-2024
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Suppose Jane's intertemporal preferences are such that MRTP12 = ∂U/∂c1 ∂U/∂c2 / ∂c2/∂U ∂c1/∂U is the marginal rate of time preference, the subjective value of period 1 consumption in terms
a) U
b) c1
c) c2
d) Time

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