Using the relationship demonstrate that if the utility function is of the special form U(C) = C,
Question:
Using the relationship demonstrate that if the utility function is of the special form U(C) = C, the consumption rate of discount (r) and the utility rate of discount are identical.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Natural Resource And Environmental Economics
ISBN: 9780273655596
3rd Edition
Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James Mcgilvray
Question Posted: