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2) The representative agent lives for two periods (1 and 2) and receives exogenous incomes of y and y, respectively. The lifetime utility function
2) The representative agent lives for two periods (1 and 2) and receives exogenous incomes of y and y, respectively. The lifetime utility function is given by: V(c,c) = ln(c)+ln(c) with (
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Management and Cost Accounting
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, George Foster
4th edition
1405888202, 978-0273711490, 273711490, 978-1405888202
