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b. Suppose currently A= A, and B = B. (that is, A. and B. are some current values for the production shock and preference shock,

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b. Suppose currently A= A, and B = B. (that is, A. and B. are some current values for the production shock and preference shock, respectively). On your diagram, clearly (qualitatively) sketch an indifference map, a budget constraint, and associated optimal choices of consumption and leisure

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