17.3 As scotch whiskey ages, its value increases. One dollar of scotch at year 0 is worth...

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17.3 As scotch whiskey ages, its value increases. One dollar of scotch at year 0 is worth V(t) = exp{2t 0.15t) dollars at time t. If the interest rate is 5 percent, after how many years should a person sell scotch in order to maximize the PDV of this sale?

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Microeconomic Theory Basic Principles And Extensions

ISBN: 9780324585377

10th Edition

Authors: Walter Nicholson, Christopher M. Snyder

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