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An agent earns $100 and, although she has the option to burn her money, she chooses to save $30 and use $70 for household expenditures.

An agent earns $100 and, although she has the option to burn her money, she chooses to save $30 and use $70 for household expenditures. How would an economist model this choice? (What is the domain, what is the menu, what is the corresponding choice statement, what is the explanation?)

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