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b. Suppose currently A: A0 and B = B0 (that is, A, and B0 are some current values for the production shock and preference shock,

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b. Suppose currently A: A0 and B = B0 (that is, A, and B0 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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